EM CEEMEA CREDIT: Republic of South Africa: New issue $BMK 12Y and 30Y
Dec-04 13:27
(SOAF:Ba2/BBpos/BB-)
IPT: 12Y 6.625%A 30Y: 7.75%A
FV: 6.25% 30Y: 7.375%
Republic of South Arica issuing a $ benchmark 12Y and 30Y bonds. We look at the existing curve for our FV analysis
- 7.95% Nov36 bond is around 6.15% yield or z+244bp
- 7.3% APR52 bond is around 7.21% yield or z+323bp
- 7.95% Nov54 bond is around 7.32% yield or z+335bp
We estimate a FV of 6.25% for the 12Y and 7.375% for the 30Y.
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