by Amruth Sundarkumar | Mar 6, 2023 | Sovereign Bonds, Sovereigns
Dollar bonds of El Salvador rose by over 7% across the curve last week. The country had gone ahead with passing a law allowing for issuing bitcoin bonds despite backlash from international institutions like the IMF. However, despite some backlash, the IMF noted...
by Amruth Sundarkumar | Jan 19, 2023 | Sovereign Bonds, Sovereigns
El Salvador’s dollar bonds jumped over 3 points higher. While the reason for the move was not clear, its bonds have continued its uptrend ever since its congress approved a law that allowed the country to raise funds via the world’s first sovereign...
by Amruth Sundarkumar | Jan 12, 2023 | Sovereign Bonds, Sovereigns
El Salvador’s dollar bonds were trading higher by over a point after its congress approved a law that allowed the country to raise funds via the world’s first sovereign Bitcoin-backed bonds. As per the government, $500mn will be raised to help build a tax-free,...
by Amruth Sundarkumar | Nov 8, 2022 | Sovereign Bonds
El Salvador’s Vice President Felix Ulloa said that the nation received an offer from China to buy all of its debt whilst also noting that they ” need to tread carefully”. He did not reveal further details on how the transaction might be conducted....
by Amruth Sundarkumar | Sep 16, 2022 | Sovereign Bonds, Sovereigns
El Salvador was downgraded to CC from CCC by Fitch upon a tight fiscal and external liquidity situation. Weaker market access can probably make them default on its $800mn offshore bond due in January 2023. Recently, El Salvador completed a $360mn buyback offer for its...
