South Africa launches US$1bn 30-year and 500m 12-year tranches

Thu Jul 17, 2014 11:13am EDT

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LONDON, July 17 (IFR) - The Republic of South Africa has launched a dual-currency SEC-registered bond, according to a lead.

The sovereign, rated Baa1/BBB-/BBB-, has launched a US$1bn 30-year tranche at 220bp over US Treasuries and a 500m 12-year tranche at 225bp over mid-swaps.

This compares to initial guidance of 240bp over US Treasuries on the US dollar tranche and 240bp over mid-swaps on the euro tranche.

Pricing is expected later today.

Barclays, Citigroup and Rand Merchant Bank are the bookrunners. Investec is a co-manager. (Reporting By Abhinav Ramnarayan, Editing by Helene Durand)

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