NEW YORK, April 24 (IFR) - Paraguay has launched a US$280m tap of its 4.625% 2023 bond at 4.15% ahead of pricing today.
Final pricing is coming some 10bp tight to initial price thoughts of 4.25% area released by leads Bank of America Merrill Lynch and JP Morgan earlier today. The bonds were trading at around 4.12% Friday, according to Thomson Reuters data.
The 144A/Reg S 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; Editing by Natalie Harrison)