Dominican Republic, Arcor jump on rally
Two high yield borrowers made it six Latin America new issues for the week as both the Dominican Republic and Argentine confectionary maker Arcor tap existing bonds at record yields.
B1/BB- rated Arcor, the best rated borrower in Argentina, had telegraphed its intention to reopen its 6% July 2023s last week, and spent Monday on investor calls accompanied by leads Itaú, JP Morgan and Santander.
With the borrower’s existing bonds trading at just over 107, the borrower
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