Seek and ye shall find … even if it is not what you were looking for.
That, at least, is what has happened to US-Chilean company, Darmatal, in Paraguay. As interest increases in Paraguay’s hydrocarbons potential, Darmatal was exploring for oil. Instead, it found iron. Continue reading »
Judging from Thursday’s successful Paraguayan bond sale, bond investors are clearly more desperate to find a good return somewhere – anywhere – then they are interested in constitutional niceties.
Paraguay agreed to sell $500m in bonds at 4.625 per cent, at the bottom of the guidelines of 4.625 per cent to 4.75 percent and far below earlier talk of 5 per cent, Reuters reported. Even more impressively, Paraguay came in under its neighbor Bolivia, which sold $500m in bonds in October at 4.875 per cent. Continue reading »
It sounds ominous when the company planning one of the biggest investments in a country’s history says it is watching developments closely.
But here is what Rio Tinto Alcan has said about the impact of Paraguay’s unfolding political crisis on its plans to build a $4bn aluminium smelter. Continue reading »