The Republic of South Africa has issued a dollar-denominated benchmark bond worth $750 million, Bloomberg reports. The 30-year bond has a coupon rate of 6.25%, with a spread of 180 basis points over Treasurys. Citigroup and Deutsche Bank have been appointed as the joint lead managers of the sale, while Rand Merchant Bank is the co-manager of the offering, adds The Wall Street Journal. The South African National Treasury is seeking to sell about $1 billion of foreign bonds each year for the next three years.
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