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Montenegro sets final price guidance of 5.625% (+/-12.5bp)
May 13, 2014 / 10:52 AM / 3 years ago

Montenegro sets final price guidance of 5.625% (+/-12.5bp)

LONDON, May 13 (IFR) - Montenegro, rated Ba3 by Moody’s and BB- by Standard & Poor‘s, has announced final yield guidance of 5.625% (+/-12.5bp) for a five-year euro bond, according to a lead manager. The deal will price in that range later today.

On Monday, the sovereign began marketing the transaction in the high 5% area.

Last week, Montenegro announced the bond will have a minimum yield of 5.50%.

The new issue is being undertaken in conjunction with a tender and exchange offer for its outstanding 2015 and 2016 notes, which closed on Monday.

Citigroup, Deutsche Bank and Erste Bank are the lead managers and arrangers of the new issue and liability management exercise. (Reporting by Sudip Roy; editing by Philip Wright)

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