After requesting that banks submit ideas for a new dollar bond, the Department of Treasury mandated three houses yesterday Wednesday for a $500 million 10-year deal. HSBC, Salomon Smith Barney and UBS Warburg won the books for an offering, which may launch as soon as today.
Both HSBC and UBS Warburg have a longstanding working relationship with the Republic, but for Salomon the deal marks a return to the fold. The US investment bank has been most closely associated with the central bank in the past and has recently been trying to structure a credit enhanced transaction for Napocor, which many now believe will not see the light of day and may explain Salomon's...
