Guatemala Issues $28 Million in Treasury Bonds
In the auction held on Tuesday, the Finance Minister issued $28.38 million worth of bonds with terms of 11 and 15 years, paying interest of 8.6% and 9.0% respectively.
Wednesday, August 11, 2010
The event, which took place in the local exchange, saw the minister receive offers for a total of $39.64 million, with 96% coming from private investors and the rest from the public sector.
The proceeds of the issue will be used to settle obligations maintained by the Ministry of Communications, Infrastructure and Housing (CIV), with construction companies.
On June 15 the Finance Ministry will start selling $560 million in Treasury Bonds in the domestic securities market.
The Securitization Bonds, for $10.5 million, are backed by the future financial flows of a portion of the revenue of the Municipality of San Salvador.
The treasury has issued 2% less bonds than planned, due to poor investor appetite for these securities.
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