LatAm Bonds
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Last week’s botched attempt by Petrobras to tap its global 2016 bonds again highlights a worrying intransigence among emerging market borrowers. It’s time the message was delivered loud and clear: “pay up or shut up”.
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The Hellenic Republic positively irritated bankers this week when it issued its third bond of the year — a Eu3.5bn tap of its outstanding 2024 deal.