Paraguay draws up next cross-border bond sale
In an interview, Paraguay's finance minister says the sovereign plans to tap the market for up to $550m in March
Paraguay is moving ahead with its plans to issue
up to $550m in the cross-border market in March, Finance
Minister Santiago Peña told LatinFinance.
The country will use the money raised in the bond
sale to fund investments in infrastructure projects and pay
down debt, he said.
"We’re hoping to go to the market in
March," he said. "That’s what we’re
Paraguay last tapped the international debt
markets in March 2016, when it raised $600m in
2026 notes that priced at par to yield 5%.
President Horacio Cartes is looking to develop
infrastructure projects to help stoke economic growth.
Paraguay's economy expanded 4.2% in 2016, despite an economic
slowdown in neighboring Brazil, one of the
country’s leading trading partners.
Last year, Paraguay awarded its
first PPP to Spanish builder Sacyr, Portugal’s
Mota-Engil and local road builder Ocho A to expand and maintain
the Ruta 2 and Ruta 7 federal highways under a 30-year contract
valued at $520m.