Tunisia
-
The initial guidance for the Reg S/144A deal was put out at 6.875% area on Wednesday morning in London. -
The Republic of Tunisia does not finish its roadshow until Tuesday 9 July, but after a 100bp rally in its euro 2024s since the start of June and strong roadshow meetings so far, a seven year — the longer end of the planned tenor for the benchmark bond — looks to be on the cards.
-
The Republic of Tunisia does not finish its roadshow until Tuesday, but after a 100bp rally in its euro 2024s since the start of June and strong attendance at the roadshow meetings so far, a seven year — the longer end of the planned tenor for the benchmark bond — looks to be on the cards.
-
-
Tunisia raised €500m of five year paper on Wednesday with a 144A/Reg S benchmark.
-
The Central Bank of Tunisia, on behalf of the sovereign, hit the market on Wednesday morning to print a five year euro benchmark.
-
The Republic of Tunisia hit screens on Thursday, announcing a roadshow to promote a euro benchmark — the nation’s first since February 2017.
-
Tunisia’s first Eurobond since 2005 demonstrated a firm show of support for a borrower which acknowledges it still has many issues to address – social, political and economic. But despite the deal’s success, Finance Minister Lamia Zribi said that Tunisia is keen to issue aid-backed bonds in future, in order to keep costs down.
-
Fitch’s downgrade of Tunisia’s credit rating was based on out-of-date information and negatively impacted the sovereign’s recent Eurobond trade, Lamia Zribi, Tunisia’s finance minister told GlobalCapital.
-
Even heavy indications from US Federal Reserve chair Janet Yellen the central bank will raise interest rates at its next meeting were not enough to derail the strong primary market in emerging market bonds.
-
Tunisia returned to euros for the first time since 2005 on Friday but the €800m deal was by no means a blow out and the leads were unable to move pricing as the borrower made a play for new investors.
-
Tunisia has set the yield on its seven year euro bond issue on Friday morning at 5.75%, unchanged from initial price thoughts.
