Sura Asset Management shines in debut

Sura Asset Management shines in debut

Bonds

The book for Sura Asset Management’s $500m bond sale last week was almost nine times oversubscribed, highlighting the company’s strong growth prospects in the region. The 144A/Reg S fixed-rate bond was priced to yield 4.875%, equal to 230bp over US treasuries. “Initial indication was plus 262.5bp, so they tightened it up quite a lot,” said an investor. Bank of America-Merrill Lynch and Morgan Stanley led the transaction on Thursday. The company’s executive president Andres Castro in a statement

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