Sugar Producer Targeting $400m

Sugar Producer Targeting $400m

Guatemala Bonds

Guatemalan sugar producer and exporter Ingenio Magdalena is looking at a $400m bond transaction, according to Fitch, which assigns a BB minus rating. The debut issuer was scheduled to market a 5-10 year bond through today. No initial price talk had been issued as of late Wednesday. The issuer is raising funds to refinance existing debt and for general corporate purposes. The proposed bonds will have the guarantee of certain subsidiaries that represent approximately 94% of the company’s total ass

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