Ivory Coast out in euros, BOAD to follow with first deal in two years

Africa lake px 230 for gc
By Lewis McLellan
10 Oct 2019

Banque Ouest Africaine de Développement (BOAD) is set to return to the capital markets for the first time in over two years, sounding out investors for a long end dollar benchmark. The trade will follow a euro dual trancher from the Ivory Coast sovereign.

Ivory Coast selected BNP Paribas, Citi and JP Morgan to run the books for euro Reg S/144A benchmarks maturing in October 2031 and October 2040. Both tranches will be repaid in three instalments, beginning two years before maturity.

Initial price thoughts were set at 6.125%-6.25% for the shorter tranche ...

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