Investors Snap Up Puerta del Sur Bonds

Uruguayan airport operator Puerta del Sur has sold $87m of debt securities, representing the largest corporate debt issue yet seen in the domestic market. FicusCapital, which arranged the transaction, said the bonds were snapped up by investors in the first three hours. The fixed-rate bonds, which yield an annual 7.74%, have a 14.5-year maturity and are rated A (national scale) by Fitch. The money raised will be used to build a new terminal at Uruguay’s Carrasco International Airport in Montevideo, operated by the company.