Aruba Returns with Size

Aruba Returns with Size

Caribbean Bonds

The government of Aruba has completed a $253m 2023 bond sale, in its first visit to the DCM in four years. The island sovereign saw about $1.9bn in orders for the deal offering a far more liquid size than its previous transactions, all under $60m, according to Dealogic data. The A minus/BBB credit priced at par with a 4.625% coupon to yield UST+295.6bp and in line with 4.625%-area guidance revised from an earlier 4.875%-area. Aruba had also whispered 5.0% during a US and European roadshow. Inves

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