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Commentary & Deal Flow

SSA PRICED: South Africa US$3.5bn 12s/30s 2-Pt

HYC European Market: Deal Flow - General

Republic of South Africa Government International Bond (SOAF) exp Ba2/BB/BB- US$3.5bn 144A/Reg S 2-part sr notes (12y FXD due 12/11/37 and 30y FXD due 12/11/55). DB (B&D)/NEDBK joint books. Broad-Based Black Economic Empowerment (B-BBEE) Partner: RHO Capital. Denoms: 200k x 1k. Day Count: 30/360. Pricing 12/4. Settle 12/11.

IPTs: 12y 6.625% area, 30y 7.75% area.
GUIDANCE: 12y 6.25%#, 30Y 7.375%#.
LAUNCHED: $1.75bn 12y at 6.25%, $1.75bn 30y at 7.375%.

PRICED:
$1.75bn 6.125% 12/11/37 98.956 6.25%.
$1.75bn 7.25% 12/11/55 98.498 7.375%.