March 9, 2018 |
Paraguay culled a month of no new LatAm bond issues, printing $530m in 30-year debt, DCM sources confirmed.
Citi and JPMorgan started price talk in the high 5% area, sources said. With Paraguay's 2044s trading at 5.5% before price talk was announced, investors were pleased the sovereign left something on the table for them.
Orders were roughly 5x oversubscribed and leads promptly increased the transaction to its final $530m amount, compared to the initial $500m plan.
By time of guidance, bookrun
Sovereign issuer fills a heavy orderbook, increases transaction to $530m from $500m, sources