Emphasizing the Positive

Emphasizing the Positive


At the height of the northern hemisphere summer, when markets are normally in the doldrums, innovative and successful deals came out of Latin America, proving that investors are able to look beyond Argentina's crisis and consider a deal on its own merits. But issuers need to offer investors structures with plenty of reassurance and hefty yields. US high-grade investors in particular liked the attractive yields available from Latin America's less risky credits. El Salvador, an investment grade issuer, went to the international market in July to raise $353.5 million with a 10-year bond. Credit Suisse First Boston and Deutsche Bank led the deal, priced at 350 basis points over US Tr

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