Investors See Pickup with AES El Salvador

Investors See Pickup with AES El Salvador

El Salvador Bonds

AES El Salvador returned to the international bond markets to print a new $310m 2023 senior guaranteed note, generating 3.5x in demand. The Ba2/BB bond issued through the AES El Salvador Trust priced at 98.223 with a 6.750% coupon to yield 7.000%, the tight end of 7.000%-7.125% guidance following low-7% talk. The bond traded up 0.10 points on the bid Thursday afternoon, a trader says. “They were generous on pricing,” says one EM investor who calculated a 200bp pickup to the El Salvador sovereign

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