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Bond Market News
El Salvador Completes Tender Offer Of its Notes
April 18, 2024
El Salvador has announced the results of the tender offer for its 2025s, 2027s and 2029s notes, which began last week. The nation bought back $487mn of its debt, accepting all the tenders for its 2025 notes, and 41% and 24.7% of the tender offered for its 2027s and 2029s respectively. The settlement of validly tendered and accepted notes is scheduled to occur on 19 April 2024, according to the press release. Following the tender offer, the outstanding principal for its 2025s, 2027s and 2029s now remains at $99.6mn, $633mn and $529.5mn.
Its newly issued 9.25% 2030s gained by 0.7 points to 88.9 cents on the dollar, yielding 12.3%.
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