BOAD goes long and tight

tight pricing
By Mariam Meskin
16 Oct 2019

Banque Ouest Africaine de Développement (BOAD) was able to tighten pricing beyond guidance on a 12 year bond, one of its longest dated issues, this week.

The deal, which was priced on Tuesday, closed at $830m according to a lead on the deal and achieved a coupon of 4.7%. Initial pricing guidance was 5% area.

BNP Paribas, JP Morgan, Natixis and Standard Chartered Bank arranged the RegS/144A senior unsecured bond.

The issuer, rated Baa1 by Moody's ...

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