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Paraguay hopes to lift profile with bond sale 0

Jul 15, 2014

   Source: Tetsumo  
Paraguay wants to spur FDI with its return to the international debt capital markets, its central bank governor has told LatinFinance.
"We are using this financial investment in order to bridge and attract all kinds of investment," Carlos Fernández said in the July/August edition of LatinFinance. "That is investment in factories, in land, in real estate. That is the way we are using the sovereign bonds."
The Ba2/BB/BB- rated sovereign is set to tap the bond market this quarter — and possibly as soon as this month, Fernández said.
"It is going to be very tight before August, because August is usually quiet; otherwise we are going in September. We are trying to push and go to the market in July. It is going to be tight, but I think we can get it. Before the [end of] the third quarter, for sure."
Paraguay was last in the bond market in January 2013, when it sold a $500m at a 4.625% yield. That deal has traded tighter since pricing, and observers expect that another deal from the sovereign will be well-received.
The full article is online here.  

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