Côte d'Ivoire convinces buyers to cut up yield targets for 10yr

Cote d'Ivoire took another step on the road to recovery with a hugely successful $750m 10 year bond this week. Investors, analysts and syndicate officials all had their own ideas on pricing. But in the end the leads priced the deal some 50bp tighter than most investors had asked for and still watched the bond trade up in the secondary market.