El Salvador opens books on 12-year US dollar bond
NEW YORK, Sept 11 (IFR) - The Republic of El Salvador has opened books on a new 12-year benchmark-sized US dollar bond, setting initial price thoughts in the area of 6.75%, according to a source.
The sovereign, rated Ba3/BB-/BB-, will use proceeds from the sale to repay local LETES notes.
Citigroup and Deutsche Bank are the lead managers on the 144A/Reg S issue, which will price as soon as possible.
(Reporting by Davide Scigliuzzo; Editing by Sudip Roy)
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