Suriname eyes dam funding as 2026s slip

Suriname, Afokaba, dam, hydropower, energy, Alcoa, LatAm
By Oliver West
18 Nov 2019

South American sovereign Suriname is looking to raise $150m of 18-month debt in bond markets to fund the transfer of a dam that the government believes can significantly improve public finances. But the issuer’s only outstanding international bond is tumbling in secondary markets, say investors.

Suriname is due to acquire the Afokaba dam from US mining company Alcoa by December 31, allowing the government to start receiving the profits Alcoa has been generating through selling electricity.

The government — which faces presidential elections in May 2020 — wants to make the most of the ...

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