The Republic of Tunisia printed a tight €700m 6.375% 2026 bond on Wednesday from a book of nearly €2bn. A syndicate manager away from the deal said it was a good demonstration of the enthusiasm for emerging market credit.
The note was sold at 99.314 to yield 6.5%, well inside the initial guidance of 6.875% area that leads had put out earlier in the day.
Citi was global coordinator and joint lead manager while Natixis and Standard Chartered were joint lead managers.
An EM trader