El Salvador Lands Below 6%

El Salvador Lands Below 6%

El Salvador Bonds

El Salvador has priced a long-awaited $800m bond, getting robust demand despite tightening below 6%. Demand for the new 2025 topped $5bn, according to investors following the sale. Starting at low-to-mid 6%-area indications, the sovereign tightened to 5.875%, pricing at 99.984 with a 5.875% coupon to yield 5.875%. The bonds were trading up 0.50-0.75 points in the grey, according to a trader. The issue was seen conceding 5bp-10bp versus the issuer’s curve. “El Salvador looks fair and not relative

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