Senegal launches US$500m 10-year bond at 6.25%

Wed Jul 23, 2014 9:47am EDT

LONDON, July 23 (IFR) - The Republic of Senegal, rated B1/B+, has launched a US$500m 10-year bond inside guidance on the back of an order book in excess of US$4bn.

The African country will price the new issue with a 6.25% yield later today via Citigroup, SG CIB and Standard Chartered.

The issuer opened books with initial price thoughts of 6.625% area earlier on Wednesday, which was later revised to official guidance of 6.50% area. (Reporting by Helene Durand; editing by Sudip Roy)