Bonds
El Salvador’s Fovial Shelves $500 Million Junk Bond Sale
Nayib Bukele, El Salvador's president.
Photographer: Jeenah Moon/BloombergThis article is for subscribers only.
El Salvador’s Fondo de Conservación Vial shelved a planned $500 million bond sale, the finance minister for Nayib Bukele’s government confirmed.
Fovial was assessing demand for the bonds, which would have matured in seven years and may have yielded about 14.5%, according to people with knowledge of the transaction. Oppenheimer & Co. Inc. was arranging the transaction.