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Top section
Secondary market selling of private bonds may be wreaking havoc with the primary market for public debt but the trades were still the right thing to do
Sovereign's $3bn deal tightens well as Asian demand returns
The sovereign's public and private bonds of similar maturities are trading over 25bp apart
Data
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High carry and stronger FX performance are drawing investors deeper into frontier markets
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Volume dips only slightly despite there being a third fewer transactions
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How well the government handles the disaster could dictate its ability to push through difficult reform
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Underwriting left unused after deal is 33% oversubscribed
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Driving pricing lower was the small size and the green label
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New issue premiums average a little more this year than in 2025
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Sponsored by CAF – Development Bank of Latin America and the Caribbean
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