Samarco nets blowout, DomRep raises $500m
Brazilian iron ore pellet supplier Samarco Mineração’s jumbo order book on Monday was reminiscent of the heady days of early 2013 as the company attracted $5.5bn of demand for a $700m 10 year bond. After CFE’s blow out last week, Samarco provided further evidence of the high demand for high quality credits from Latin American borrowers.
The Dominican Republic (B1/B+/B) also added to the sense of euphoria, raising $500m of 2024s, which the high yielding sovereign sold at par to yield 6.6% via Citi. The Dominican Republic already has a bond due 2024 that was trading at 6.37% on Monday morning.
Samarco (BBB/BBB) used the high level
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