Guatemala's Solid Sale

Guatemala's Solid Sale

Guatemala made a stoic appearance in the international bond market in November with a $325 million bond led by sole bookrunner Morgan Stanley. "It wasn't the best moment as a result of September's events and mainly because of the stress Argentina is causing in the markets, but it was important for us to access the market in difficult times with a reasonable interest rate," says Eduardo Weymann, Guatemala's minister of finance. Morgan Stanley priced the 10-year 144a issue at a spread of 593 basis points over 10-year US Treasurys. Although Argentina threatened to finally collapse in the days leading up to the launch, other Latin American issuers held up well. "We saw strength in non-Arge

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