November 1, 2013
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.
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 regiona
Central America’s shifting landscape for banking offers opportunities for local participants