Cabcorp Bottling Company Issues Bonds for $150 million

For the second time the company is to issues securities in international capital markets. The first time the issuance, rated BB, Ba2 and BB + by the rating agencies Standards & Poors (S & P), Moody's Investors and Fitch Ratings respectively, was acquired by Citigroup Global Market Inc.

"Oscar Arroyo, Vice President of Cabcorp, said that the securities issued will be acquired in full by global investment funds.

"Citigroup presented the bonds of the corporation (Cabcorp) to investors in London, Santiago, Chile, and the cities of Los Angeles, Boston and New York, USA. Demand was 11 times greater than the amount offered, which will lead to better financial conditions", said the executive in an article in Elperiodico.com.gt.

Source: elperiodico.com.gt

More on this topic

Moody's downgrades El Salvador´s Debt Rating

March 2011

Moody's downgraded the rating to "Ba2" from "Ba1", citing a continued deterioration of the country's financial condition.

In a statement the rating agency stated, "The metrics for sustainability of government debt (including debt to income ratio) are not consistent with a grade of 'Ba1' in light of the limited prospects for growth the country has," Yahoo News published.

ICE Looks to International Markets

November 2011

Costa Rica's state-owned electricity and telephone services supplier (ICE) has decided to finance its future capital expansion projects with an international debt issuance.

Aldesa's analysis of ICE's decision comments that the company is looking to make the most of the joint conditions of low dollar interest rates and a lack of this kind of opportunity for investors.

Panama to Issue $500 Million in "Samurai" Bonds

November 2010

The country announced its first sovereign bond issue in the Japanese market.

"These securities, known as "samurai" will be placed among Japanese institutional investors, with the possibility of having a guarantee of up to 95% of the value of issuance by the Japan Bank for International Cooperation”, said the Panamanian Ministry of Economy and Finance in a statement to Invertia.com.

El Salvador Sells $200 Million in Bonds

June 2010

The operation, conducted in the local market, will help finance the country’s “Program for Supporting Social Policies”.

The 15-year securities will pay an interest rate of 6.7%, informed the treasury ministry.

“According to the institution, the issue was mostly bought by ‘small, individual investors’, who acquired the bonds through stock brokers; other purchasers were Retirement Funds”, reported Elsalvador.com.