December 19, 2019 |
Suriname issued $125 million worth of debt on Tuesday evening, earmarking the proceeds to pay for the Afobaka hydroelectric dam owned by US aluminum producer Alcoa.
The debt was sold at a discount price of 95, bringing the yield up to 12.5%. The amortizing debt, with an average life of 2.25 years, carries a 9.875% coupon and matures in 2023, according to the lead bookrunner Oppenheimer.
The transaction raised just enough money for the government to pay off approximately $120 million in past ener
Former Dutch colony in South America issues debt with a hefty 9.875% coupon to fund payments to US aluminum producer Alcoa