LatAm Bonds
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Details of Venezuela’s bumper combination dollar bond sale, which closed last Thursday (April 24), emerged on Monday. The total issue, as many bankers had expected, grew to $4bn from a $3bn minimum, with strong demand given what was seen as modest pricing in the unorthodox Venezuelan market (see EuroWeek 1050).
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The continuing sell-off in Treasury yields provoked a flurry of five year deals this week with KfW, International Finance Corp and Export Development Canada issuing global bonds to satisfy demand from investors looking to extend duration and take advantage of the more attractive yields on offer.