Suriname $550 million 9.25% sovereign bond issue

Overview:

• Suriname has made its debut issue in the international bond markets issuing a $550 million sovereign eurobond.
• The 9.25% Rule 144A/Reg S notes are due in 2026 and are listed on the Luxembourg Stock Exchange.
• Oppenheimer & Co and Scotiabank acted as joint lead managers and bookrunners on the deal. Wilmington Trust acted as trustee
• The deal follows a $86 million private placement made by the country earlier in 2016.
• The deal comes in the context of economic reforms in the country as it recovers from low commodity prices. The IMF has also been assisting the country including providing a $478 million stand-by arrangement in May 2016.

Sam Duke - Editor