New Issue: El Salvador sells $653.5 million notes due 2021 at par to yield 7 5/8%

By Christine Van Dusen

Atlanta, Jan. 26 - El Salvador priced $653.5 million notes due Feb. 1, 2021 (Ba1/BB-/BB) at par to yield 7 5/8%, a market source said.

Deutsche Bank was the bookrunner for the Rule 144A and Regulation S offering.

Proceeds will be used for debt refinancing.

Issuer:	El Salvador
Amount:	$653.5 million
Maturity:	Feb. 1, 2021
Description:	Notes
Bookrunner:	Deutsche Bank
Coupon:	7 5/8%
Price:	Par
Yield:	7 5/8%
Trade date:	Jan. 25
Settlement date:	Feb. 1
Ratings:	Moody's: Ba1
	Standard & Poor's: BB-
	Fitch: BB
Distribution:	Rule 144A and Regulation S

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