LONDON, July 16 (IFR) - Cote D‘Ivoire has launched a US$750m 10-year bond at a yield of 5.625%, according to a lead banker, which is at the tight end of official guidance.
The West African sovereign had set terms of 5.75% area (plus or minus 0.125%) for the 144A/Reg S bond earlier on Wednesday. Cote D‘Ivoire, which is rated B1 by Moody’s and B by Fitch, began marketing the bond at an initial yield of 5.875% area.
The bond will price later today. BNP Paribas, Citigroup and Deutsche Bank are the lead managers (Reporting by Sudip Roy; editing by Alex Chambers)