El Salvador to repurchase more of its debt

SAN SALVADOR, El Salvador (AP) — El Salvador’s government will make a second buyback of its sovereign debt bonds maturing in 2023 and 2025 as it tries to calm market concerns that it could default on its debt. In a statement Tuesday, the government set the maximum for the repurchase at $74 million. The 2023 and 2025 bond offerings were $800 million each. In September, the government bought back $565 million of those bonds. President Nayib Bukele said via Twitter that the September repurchase “was so successful that we have decided to launch ANOTHER OFFER for the remainder of the 2023 and 2025 bonds.”