Guatemala's Banco Industrial set a Central American landmark in
October 2012, when it sold a $500 million cross-border bond.
The deal was the largest of its kind from a non-sovereign
issuer in the region.
Bank of the Year, Guatemala: Banco Industrial
Central America’s shifting landscape for banking offers opportunities for local participants
The 10-year bond, sold during a period of intense interest
from international investors in strong-yielding Latin American
debt, drew $4.5 billion in orders from over 250 accounts. That
encouraged the bank to increase the deal, which pays a 5.5%
coupon, from the $300 million first planned.
For Banco Industrial, the deal was the first step in a
strategy to draw in further international investors. As the
Central American banking landscape changes - with global banks
retrenching and regional players, notably the Colombians,
entering - Banco Industrial hopes to increase its own stake in
"The growth opportunities are there today, and if we don't
take advantage of them then other banks certainly will,"
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