El Salvador lower in grey after pushing primary limits

El Salvador, San Salvador, lockdown, Covid-19, Coronavirus, LatAm, Central America, 575
By Oliver West
09 Jul 2020

El Salvador, the highest yielding Latin American sovereign not to have already announced a debt restructuring, sold $1bn of 32 year bonds on Wednesday but at a hefty concession to its inverted curve.

If El Salvador’s ability to raise funding at all was testament to yield appetite, many investors were not keen to commit to a deteriorating credit and the new issue was spotted trading down in the grey market.

“Unsurprisingly, we are hearing this was a bit of a tricky ...

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