The Republic of South Africa $500 million 20-year yankee bond: Merrill Lynch
One of the South African success stories of the year, the deal benefited from the republic’s recent upgrade to investment grade status. The final size was twice what had been originally planned and the deal was a blow-out success. Combined with the World Bank 30-year R1 billion zero-coupon deal in the same month, the yankee bond deal showed the country’s favourable reputation with investors.
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