Bolivia Return Lands inside Expectations
Investor demand for yield and Bolivia’s strong macroeconomic credentials appear to have overcome political risk concerns, as the Andean sovereign got a yield inside 5% in its return to the debt capital markets after nearly a century. Buyers put in for more than $4.25bn in orders in one of this year’s most anticipated DCM transactions. “It looks tight, but the ratios are pretty solid for Bolivia. We’re OK in the short-term and want to be paid for near-term risk, but in the medium to long-term there...
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