Paraguay to tap 4.625% 2023S for US$280m -source
By Paul Kilby
NEW YORK, April 24 (IFR) - The Republic of Paraguay is set to reopen its 4.625% 2023 bond today through bookrunners Bank of America Merrill Lynch and JP Morgan.
The borrower has capped the deal's size at US$280m and is approaching investors with initial price thoughts of 4.25% area.
The 144A/RegS senior unsecured bond is rated Ba1/BB/BB by Moody's, S&P and Fitch. Proceeds are being used to fund infrastructure and capital expenditures as well refinance outstanding debt. (Reporting by Paul Kilby; Anthony Rodriguez and Michael Gambale)
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