San Miguel jumps on low yield
Peruvian plastic packaging company San Miguel Industrias sold seven year bonds below 5% on Tuesday, with the yield achieved by the Peruvian company particularly impressing bankers.
Bank of America, Citi and JP Morgan had announced initial price thoughts of low 5% for a $300m five year non call three trade on Monday afternoon, and the order book was heard reaching $3bn on Tuesday.
This allowed the leads to offer guidance of just 4.625% before launching
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