africatodayonline.blogspot.com -
By Davide Scigliuzzo
Mon Dec 2, 2013 5:03am EST
LONDON, Dec 2 (IFR) - The Gabonese Republic, rated BB-/BB-, has set a minimum yield of 6.125% on its upcoming issue of a benchmark-sized US dollar-denominated 2024 Eurobond, according to market sources.
The transaction is part of an exchange and capped tender offer for Gabon's outstanding 8.2% 2017 Eurobond.
Citigroup, Deutsche Bank and Standard Chartered are the lead managers on the 144A/Reg S transaction, which is expected to price on Thursday.
The tender and exchange offer is scheduled to expire on Wednesday at 1000 GMT.
Gabon's outstanding 2017s were spotted trading at a yield of 3.86% as of 0852 GMT on Monday, according to Tradeweb data. (Reporting by Davide Scigliuzzo; Editing by Anil Mayre)