IHS, the Nigerian telecom towers group, hit screens on Wednesday for a dual tranche bond. It received strong demand and the leads were able to tighten the spread and add an extra $300m to the longer tranche.
The borrower printed $500m of long five year paper with a two year call and $800m of eight year non-call three notes.
Sachs and Standard
Chartered were global coordinators, with ABSA Bank, JP Morgan
and Rand Merchant Bank as bookrunners.
Initial price thoughts were