Sovereign Turns to Loan Market

Sovereign Turns to Loan Market

Barbados Loans

After electing not to pursue a bond transaction in October, Barbados is considering a $150m, 5-year syndicated loan, according to people familiar with the process. The facility would pay Libor+700bp and feature an 18-month grace period. Credit Suisse and First Caribbean are leading the effort. The Ba1/BB minus island nation had been looking to replace some $250m of its 7.25% 2021 and 7.00% 2022 bonds, and met investors in September to discuss a new 2025 note. However, market conditions were not

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