Paraguay to Sell $550 Million Bonds by January, Franco Says
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Paraguay aims to sell its first global bonds by mid-January as President Federico Franco seeks to tap the lowest emerging-market borrowing costs to accelerate development in the land-locked South American country.
Officials are meeting with investors ahead of the planned sale of $550 million in securities, Franco said in an interview today at Bloomberg’s headquarters in New York. Franco, who took office in June after former President Fernando Lugo was impeached, vowed to reduce the country’s dependence on the regional trade bloc known as Mercosur, develop oil and gas resources and build an aluminum smelter plant.