Tiny Tajikistan ‘forces investors to look’ at cheap bond debut
Tajikistan made its debut in the bond markets on Thursday with a bond that came well wide of some investors’ expectations, as one of the smallest economies in the sovereign debt arena paid up to compensate for its shaky balance sheet.
The B3/B- rated name hit screens with price thoughts of 8% on its 10 year amortising bond, giving it an eye-catching premium over comparably rated sovereigns such as Belarus (Caa1/B-/B-), which had 2027s trading at 6.2% on Tuesday.
At initial price thoughts, the yield was
Please take a trial or subscribe to access this content.
Contact our subscriptions team to discuss your access: firstname.lastname@example.org
To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: email@example.com or find out more online here.