Barbados talks up to $500 million notes due October 2025 at 8¾% area

By Christine Van Dusen

Atlanta, Sept. 30 - The Government of Barbados gave initial price guidance in the 8¾% area for its upcoming $500 million maximum issue of amortizing notes (/BB+/) due in October of 2025, a market source said.

Deutsche Bank and CIBC are the bookrunners for the deal, which could price as soon as Tuesday.

Proceeds will be used to finance a tender offer, to provide budgetary support to finance fiscal operations, to build foreign exchange reserves and to improve the government's external debt maturity.

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