In this most yield-hungry and liquidity-rich era, there were reasons for optimism for the Lao Democratic People’s Republic when it set about marketing $350 million of bonds in December. Laos is among the lowest rated of all Asian sovereigns, at Caa2/CCC with Moody’s and Fitch, but it was prepared to pay 10% for its money.
But the deal was postponed, then curiously put on ice while the government decided there was more that it needed to disclose to investors, the detail uncertain.
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