Sagicor hits deal cap

Sagicor hits deal cap

Barbados Bonds

Barbados-based Sagicor Financial printed a $320m seven non-call four-year bond on Tuesday, reaching the size target it had indicated. The 8.875% bond was heard to be priced at 98.722, to yield 9.125%. Lead managers JPMorgan and Scotiabank were heard to start the pricing process with initial thoughts in the low 9% area, revising that to 9.25% area guidance on Tuesday morning. Observers said the deal from the insurance company was difficult to find direct comparables for, although some recent tran

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