Andean Group - August 2013 (ISSN 1741-4466)

New bond issuance: On 15 August the Morales government issued an international bond – the second such sale since October 2012 [RA-12-12]. As in October, which signaled Bolivia’s return to global credit markets for the first time since the 1920s, the bond issue was for US$500m. It went for a price of 97.794 with a 5.95% coupon and a 6.25% yield – well above the 4.7% yield fetched in October. The new issue, managed by Bank of America, Merrill Lynch and HSBC, was rated Ba3/BB-/BB- by the international credit ratings agencies, Moody’s, S&P and Fitch respectively.

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