Nestle Ecuador Launches ABS

Nestle Ecuador Launches ABS

Andean Ecuador Structured Finance

Nestle’s Ecuador unit has launched the sale of 3-year and 5-year portions of a $74m domestic bond offer, with a 7-year due next week. “This is a good time to access the market,” Santiago Noboa, Nestle Ecuador CFO, tells LatinFinance. He adds that there is liquidity available from the government pension funds and other local investors. A $20m 3-year 7.25% coupon tranche and a $15m 5-year 7.75% tranche launched Friday, and a $35m 7-year 8.25% piece featuring a 1-year grace period, and a $4m 7-year

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