Chicago, Jan. 27 – Paraguay sold an intraday offering of $600 million of new-money 2.739% notes (BB/BB+) with an 11-year tenor and a $225.97 million reopening of its 5.4% notes due 2050, according to a government notice.
The entire offer received $5 billion of interest.
Proceeds will be used to finance the 2021 budget and repurchase $339 million of 2023 notes.
The 2033 notes amortize in the last three years before they mature.
When Paraguay issued an 11-year bond in April 2020 the coupon was 4.95%.
The country also reopened its 2050 bonds with a 5.4% coupon to yield 4.089%.
| Issuer: | Paraguay
|
| Amount: | $825.97 million
|
| Securities: | Notes
|
| Pricing date: | Jan. 20
|
| Announcement date: | Jan. 21
|
|
|
| 2033 notes
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| Amount: | $600 million
|
| Maturity: | 2033
|
| Coupon: | 2.739%
|
| Ratings: | S&P: BB
|
| Fitch: BB+
|
|
|
| 2050 bonds
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| Amount: | $225.97 reopening
|
| Maturity: | 2050
|
| Coupon: | 5.4%
|
| Yield: | 4.089%
|
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