Comcel debut surprise brings life to EM high yield

By Francesca Young
31 Jan 2014

Guatemalan mobile company Comcel sold $800m of 10 year non-call five bonds on Thursday, defeating the expectations of some EM syndicate bankers who believed that the market was not ready for LatAm high yield borrowers.

While bankers working on the deal hesitated to draw conclusion on the stability of the market for the  longer term, a $2.65bn book defiantly showed that investors are willing to put money into new EM deals — even from less established jurisdictions.

“We had decided by Wednesday evening ...

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