Nestle Ecuador Readies Domestic ABS

Nestle Ecuador Readies Domestic ABS

Andean

Nestle’s Ecuador unit plans to launch next week a $70m accounts receivable securitization in the domestic market. The issuer plans to bring a $10m 2-year tranche paying 7.5%, a $20m 4-year piece paying 8.0% and a $40m 5-year slice at 8.5%, according to a broker who saw Nestle’s presentation. The bonds are backed by accounts receivable from clients including Corporacion Favorita and Importadora El Rosado. A guarantee provided by the clients puts the rating from Humphrey’s at AAA. The issuer is ex

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