Suriname 26s edge tighter on dam financing

Suriname, forest, Chinese, fire, burning, Paramaribo, LatAm
By Oliver West
18 Dec 2019

Suriname’s outstanding 2026s traded up this week, after the government clinched $125m of short-term financing that includes coupon payment support for existing bonds and lays the ground for fiscal savings via an electricity reform.

Despite the 2026s trading at distressed levels, and even though the president was sentenced to 20 years in jail for murder in late November, Suriname issued $125m of new amortising bonds.

The 9.25% 2026s had slipped from above par at the start of the year to the 70s owing ...

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