IADB whopper reopens dollars, others wait
The Inter-American Development Bank (IADB) may have reopened the US dollar market on Wednesday with a resoundingly oversubscribed $2.25bn long five year but it faced inevitable criticism of coming too cheap when the deal tightened by 5bp in the secondary market. Meanwhile, few SSA issuers seem likely to follow the IADB’s lead and only one name is in the pipeline for next week.
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