Banco Industrial Prepares Hybrids

Banco Industrial Prepares Hybrids

Central America Structured Finance

Guatemala’s Banco Industrial is preparing to issue Tier-1 hybrid debt securities due 2068. Guidance on the notes is heard at 9%-10%, says a banker away from the deal. The size of the issuance has yet to be determined. The notes are rated B+ by Fitch and Ba3 by Moody’s, both which expect to give the notes an equity classification. The Guatemalan bank, which has been acquiring local rivals, had planned to do an IPO on the Mexican Bolsa. The deal through Credit Suisse was expected in Febr

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