Banco Industrial Awaits Hybrid Issue

Guatemala’s Banco Industrial was expected to price late last week a 2068 hybrid issue to provide it with Tier-1 capital. The exact amount of the Ba3/B+ rated issue was not specified. Guidance had been given at 9%-10% for the fixed portion of the securities, which after 2018 switch to a rate floating above Libor. Credit Suisse is managing the transaction.