Ambitious Paraguay sells first long bond

By Oliver West
07 Aug 2014

Landlocked South American sovereign Paraguay surprised some with its timing by issuing its second ever international bond on Monday. But though bankers away from the deal said the 30 year deal created a steep curve, others said the borrower’s strategy was spot on.

Paraguay had entered international markets in January 2013 with a 10 year deal sold at the lowest ever coupon for a first-time international sovereign issuer.

The government has its eye on investment grade status in the medium term and told GlobalCapital in March that it is working with ...

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