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LatinNews Daily - 01 August 2019

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In brief: El Salvador issues US$1bn in sovereign bonds

* The Salvadorean government has announced the successful placement of US$1.097bn in sovereign bonds on the international market, involving investors from over 25 countries. This issue offered an interest rate of 7.12% and a term of 30 years, with a maturity date set at 2050. According to Finance Minister Nelson Fuentes, the successful placement of the bonds reflects the “high interest of international market investors…thereby demonstrating credibility and confidence in El Salvador and the government of President Nayib Bukele. The funds raised by the bonds will be used to pay off US$800m in Eurobonds and help finance the government’s 2019 budget.