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)