New Issue: El Salvador sells $800 million 5 7/8% notes due 2025 to yield 6%

By Christine Van Dusen

Atlanta, Nov. 30 - El Salvador priced an $800 million issue of 5 7/8% notes due Jan. 30, 2025 (/BB-/BB-) at 99.984 to yield 6%, or Treasuries plus 424 basis points, a market source said.

Citigroup and Deutsche Bank were the bookrunners for the Rule 144A and Regulation S deal.

The proceeds will be used for general budgetary purposes and to redeem the sovereign's outstanding $800 million bond due in January of 2023.

Issuer:	El Salvador
Amount:	$800 million
Maturity:	Jan. 30, 2025
Description:	Notes
Bookrunners:	Citigroup, Deutsche Bank
Coupon:	5 7/8%
Price:	99.984
Yield:	6%
Spread:	Treasuries plus 424 bps
Trade date:	Nov. 28
Settlement date:	Nov. 30
Ratings:	Moody's: Ba3
	Standard & Poor's: BB-
	Fitch: BB-
Distribution:	Rule 144A and Regulation S

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.