February 26, 2013 / 10:16 AM / in 5 years

Tanzania sets initial guidance on 7-year amortiser

LONDON, Feb 26 (IFR) - The United Republic of Tanzania has set initial price guidance for its upcoming issue of a seven-year amortising bond in the low 600bp over Libor area.

The unrated East African sovereign is targeting a size of at leads USD500m for the floating-rate private placement, according to market sources.

The Reg S notes have an amortising structure and average maturity of five years with final due date in 2020. The principal amortises in nine semi-annual instalments starting on the notes’ third anniversary.

Standard Bank is sole lead on the transaction, which is this week’s business. (Reporting By Davide Scigliuzzo; Editing by Sudip Roy)

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