Suriname sells bonds for Afobaka dam

Suriname sells bonds for Afobaka dam

Bonds Debt Corporate & Sovereign Strategy Economy & Policy Fixed Income Project & Infrastructure Finance Structured Finance

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

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