Smaller Sovereigns Line Up to Tap Demand

Smaller Sovereigns Line Up to Tap Demand

Bolivia Costa Rica El Salvador Guatemala Bonds

A group of the LatAm’s smaller sovereign issuers have their eyes on the international bond markets, likely following a transaction from Bolivia expected as soon as today. Investors anticipate a 5.0%-6.0% yield for the Ba3/BB minus/BB minus Andean credit, and the buyside is interested in seeing more borrowers take advantage of favorable issuing conditions. “Anyone with plans to issue next year should get some or all of it out of the way now. We seldom see yields this low,” says a London-based EM

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