November 15, 2017 |
The Bahamas printed $750m in 11-year amortizing bonds on Tuesday after leads priced the trade flat to the Caribbean sovereign's curve, LatinFinance understands.
Deutsche Bank and RBC started price talk in the 6% area and then set guidance in the 6.25% area, DCM bankers confirmed. The duo tightened yields to 6% and priced the transaction at par on the back of $2.6bn in orders.
Bahamas' existing $300m in 7% 2029s were spotted at 5.98% in Tuesday's secondary trading, one banker said.
The new paper
Caribbean island snares $750m from hungry bond buyers, tightens spread all the way from IPT to final pricing