Bolivia to Meet Buyside

With investors still clamoring for both yield and new names, Bolivia will meet investors ahead of what could be its first international issuance in decades. The sovereign received a Fitch upgrade to BB minus this month, and picks up plans it announced earlier this year. Bolivia will meet in investors in the US, Europe and LatAm Monday through Friday of next week. Bank of America Merrill Lynch and Goldman Sachs are managing the process, having been initially picked for the job in March. Targeting a $500m 10-year benchmark, the government originally wanted a June-July sale, but put it off due to European volatility and domestic nationalization moves making headlines. For Bolivia, a transaction is not a question of needing financing, but one of re-establishing a presence in the international bond market, with its last international foray in the early part of the 20th century, making a new bond essentially a debut. Bolivia is rated Ba3/BB minus/BB minus.