El Salvador

El Salvador: Tender results won't ease default concerns

  • Government buys back US$82mn of bonds in its second tender offer

  • Of this, US$63mn was in the 2023s (just 9.4% of the total outstanding) and US$19mn was in the 2025s (5% of outstanding)

  • Default concerns will persist as expected as small operation does little to ease burden of the January maturity

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