Tunisia battles regional tensions with Samurai trade

By Nathan Collins
31 Jul 2013

Banque Centrale de Tunisie, the central bank of Tunisia, priced a 10 year Samurai bond on Wednesday guaranteed by the Japan Bank for International Cooperation. The size fell short and the pricing wide of the issuer’s last Samurai deal, though bankers involved with the trade said the result was positive given the instability in North Africa throughout 2013. The deal followed Mexico’s own triple-tranche Samurai deal, which was priced on Tuesday.

Daiwa and Mitsubishi UFJ Morgan Stanley priced the ¥22.4bn ($228.4m) 2.04% August 2023 paper at 100bp over yen-swaps, at the wide end of initial guidance at the 80bp-100bp over yen-swaps range.

“From the start there was particular interest at the wide end of the price range,” said a ...

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