Peso tranche too far for DomRep but bankers praise 30 year

Dominican Republic
By Oliver West
24 Apr 2014

A global-local currency bond proved to be one ambitious step too far for a hot LatAm market on Thursday as the Dominican Republic failed to garner enough interest to sell a Dominican peso-denominated bond. But bankers away from the deal praised the sovereign’s first 30 year issue as strong liquidity continues to support high yield issuers.

Though the week’s volumes did not live up to some market participants’ expectations of a busy post-Easter, with no new LatAm issues until Thursday, traders said there remained a strong bid across the board with only selective selling.

Brazilian copper producer Paranapanema’s decision to postpone its bond ...

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