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El Salvador sells $800 million in bonds

Friday, September 12, 2014

El Salvador sold $800 million in bonds as yields on the country’s existing securities jumped the most in seven months.

The Central American nation sold 12-year notes to yield 6.37 percent today, three months after the International Monetary Fund said the country needed to boost economic growth and trim the deficit to make its debt load sustainable.

El Salvador yields have tumbled more than 200 basis points this year as President Salvador Sanchez Ceren won a second-round election and pushed through legislation broadening the country’s tax base.

Source: Bloomberg