LONDON, May 15 (IFR) - South Africa has set the yields for a dual-tranche offering of benchmark-sized US dollar bonds, according to a lead.
The sovereign has set the yield for a June 2030 bond at 5.875%. The notes were first marketed at 6% area.
The yield has been set for a June 2048 note at 6.30%. The tranche was initially marketed at 6.375% area.
The combined order books are around US$4.3bn.
The deal is today’s business via Deutsche Bank/Nedbank, JP Morgan, Rand Merchant Bank and Standard Bank.
South Africa is rated Baa3/BB/BB+. (Reporting by Robert Hogg; editing by Sudip Roy)