Caribbean News

$125M USD raised by Aruba through 10-year bond

#Aruba, August 2, 2018 – Nasdaq reports that Aruba raised US$125m through a 10-year bond, returning to the dollar market after a long absence, but at a substantial premium to the curve.  Aruba, a Dutch Caribbean territory is backed by the Netherlands in this return to the USD and in the article is cited as a good borrower despite being downgraded to a triple B negative rating.  It is said, “The deal, which was sold as a private placement, was priced at par to yield 6.5%… and that the yield was also higher than the average borrowing cost of 4.21% incurred last year when the sovereign financed itself almost exclusively in the domestic market, according to Fitch.  The bond matures on January 31 2029, with a target funding date of August 7. Credit Suisse and CIBC were leads on the bond.

 

Click and watch and enjoy these videoes here!!

https://www.youtube.com/watch?v=41kV1dzRjtE

https://www.youtube.com/watch?v=p7NdI0jmvXA

 

 

Most Popular

To Top