By Angela McDaniels
Tacoma, Wash. Aug. 17 - Banco Compartamos, SA, Institucion de Banca Multiple issued another Ps. 1 billion of its local-bank bonds (certificados bursatiles bancarios) in the local debt capital markets, according to a bank news release.
The original Ps. 500 million of bonds were issued on July 20. The total issue size is now Ps. 1.5 billion.
The three-year bonds (/mxAA-/AA-(mex)) have a coupon of TIIE, or the interbank equilibrium interest rate, plus 200 basis points.
The bank said it reopened the bonds to meet additional market demand following the release of its second-quarter financial results.
The proceeds will be used to finance portfolio growth, restructure short-term maturities and strengthen Banco Compartamos' liquidity position.
Banco Compartamos is a Mexico City-based bank specializing in microfinance.
| Issuer: | Banco Compartamos, SA, Institucion de Banca Multiple
|
| Issue: | Local-bank bonds
|
| Amount: | Ps. 1.5 billion, increased from Ps. 500 million
|
| Maturity: | Three years
|
| Coupon: | TIIE plus 200 bps
|
| Settlement date: | July 20 for Ps. 500 million; Aug. 17 for Ps. 1 billion
|
| Ratings: | Standard & Poor's: mxAA-
|
| Fitch Ratings: AA-(mex)
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