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)