The sovereign, rated A3/BBB+/BBB+, has set initial price thoughts of 150bp area over US Treasuries for the new issue, which will have benchmark size.
Goldman Sachs and JP Morgan are the bookrunners on the transaction, which is expected to launch and price on Tuesday.
An international bond is a type of long-term debt security that is generally issued to an investor in a country by a non-domestic entity. An international bond essentially works like a loan, with the investor being the lender and the issuing entity being the borrower. International bonds can provide bondholders with the ability to earn fixed interest payments for a set period of time. Most international bonds have a face value, interest rate, and maturity date. Entities that issue these types of bonds often do so in order to help finance property and equipment purchases or to help fund current operations.
In general, the process of purchasing an international bond works like a regular bond purchase. Typically, an investor purchases the international bond from an issuing company, bank, or government for a set face value. The investor then earns interest payments at periodic intervals until the bond reaches its maturity date. Once the bond matures, the initial principal is paid back to the investor in full.
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