El Salvador Bonds Rally as State Energy Company Sells Debt

El Salvador’s dollar bonds rallied across the curve, rising to some of the best performers in emerging markets as strong demand for the debt sale by a state-owned energy company Thursday lifted sovereign notes.

• Sovereign bonds climbed, with those due in 2032 gaining nearly 1 cent on the dollar, according to indicative pricing data compiled by Bloomberg
• The bond sale by Comision Ejecutiva Hidroelectrica del Rio Lempa “was well subscribed today and the interest in the deal has led to more demand for” El Salvador’s bonds, said Katrina Butt, portfolio manager of emerging market debt at AllianceBernstein
• NOTE: Today, ...