El Salvador could Issue $800 Million in Euro-bonds

The objective would be to swap short term Treasury notes, which will expire soon.

Friday, July 31, 2009

In May Congress approved a $1.800 million debt plan, which includes $800 million for facing the due date of short term debts, as well as $650 million for the expiration of foreign debt.

The Salvadoran Foundation for Social and Economic Development(FUSADES), recommended the issuance of $800 million worth of Euro-bonds to cover the expiration of the Treasury Notes. This way, a short term debt would be restructured into a long term one.

All in all, El Salvador has a total $3.254 million in Euro-bond liabilities.

More on this topic

El Salvador Issues $800 million in Foreign Debt

September 2014

The government has placed on the international market an issue due 2027 at a coupon of 6.375%, with offers that exceeded the amount placed by 5.8 times.

From a statement issued by from Presidency of El Salvador:

(Thursday 11 September) the Republic of El Salvador made a successful placement of sovereign bonds (Eurobonds) in the international market to the tune of $800 million, covered by Legislative Decree No.

El Salvador to Issue Bonds Worth $800 million

October 2012

The Legislature approved with 84 votes a government issuance of bonds for $800 million in order to pay for Eurobonds acquired in 2003.

A press release of the Legislative Assembly of El Salvador reads:

With the votes of 84 MPs from all parliamentary groups, the full Legislature authorized the Executive Branch in the field of Finance, to issue securities for eight hundred million dollars, in order to meet the demand for early redemption of the El Salvador’s Eurobond issue, maturing in 2023.

El Salvador Readies $800 Million Issue

September 2009

Seven investment banks are competing to underwrite next month's issue.

BCR, the central bank of El Salvador, will announce the underwriter next month, while the bonds sale will begin in the second half of October.

Carlos Acevedo, president of BCR, commented: "There is high demand for Salvadoran debt. Investors are eager to purchase bonds from El Salvador; this is good news and a positive signal".

El Salvador: $800 Million Eurobond Issue

August 2009

The Eurobond issue in international markets will be executed no later than October 2009.

With this issue, the first since April 2006, the government intends to finance the Global Anti Crisis Plan and finance the State's budget.

Carlos Acevedo, president of the Central Bank, gave details about the issue to newspaper La Prensa Gráfica: "...

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