El Salvador is heard readying a new dollar bond for next year, according to DCM bankers. The sovereign, which returned to the markets in December 2009, is heard looking for about $700m at a 10-year maturity. Deutsche Bank and Citi are rumored to have won the mandate for a 1bp fee. El Salvador, rated Ba1/BB, raised $800m last year, paying 7.735% yield on a 2020 bond through Citi and JPMorgan.
Category: El Salvador
Posted inMagazine
Best Bank – El Salvador
El Salvador’s Banco Agrícola, part of Colombia’s Bancolombia since 2007, is expected to end this year with results that compare favorably with those obtained at the end of 2009, says Fitch, which has an AA+ (stable) local rating on the bank.
Posted inDaily Brief
El Salvador Gets IDB Support
The IDB has approved a $200m loan to help strengthen El Salvador’s fiscal sector. The loan is part of a package of 6 operations approved by the IDB for El Salvador this year, totaling around $450m. The 20-year loan has been structured in 2 tranches, each with a grace period of 5 years, and an interest rate based on Libor.