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Bond issue says El Salvador better bet than Portugal

Monday, December 3, 2012

Is El Salvador, a poor Central American country struggling to overcome a violent history, a safer bet than Portugal?

Bond investors seem to think so.

In the latest sign of just how keen return-starved investors are for incremental yields and their increasing willingness to go down the credit curve to chase them, El Salvador pulled off an issue that stunned the market in both their pricings and take-up rates.

Source: MAD