Uruguay
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Swiss bank is only the second institution globally to use the instrument -
Two-part trade opens new investor base for the LatAm sovereign
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Government raises $1.5bn in deal bought by diverse global audience as part of a liability management exercise
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Oversubscriptions are hefty and pricing tight as pace of restarted issuance surprises bankers
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YPF, Eletrobras among big names lining up as LatAm primary market shakes off shackles
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Three Latin American borrowers clinch strong deals while US Treasuries sell off again
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New bond will have had 'fantastic' technical support
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Unprecedented coupon structure splits EM investors but sovereign finds traction despite tricky market
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LatAm sovereign set to break ground but tricky issuance conditions may make success tough to judge
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Handful of government issuers likeliest candidates to revive issuance
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If ESG drives credit risk, the structure has logic
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Deal would demand investors sacrifice some return if issuer hits sustainability targets
