Banacol Sounds Accounts on Debut Issue

Banacol Group, a fruit producer with operations in Colombia and Costa Rica, is sounding out investors in New York about plans to issue bonds in the international capital markets. New York accounts are being pitched a potential bond in the $200-$300m range as the banana and pineapple producer looks to improve its maturity profile by paying off bank debt. In June 2010 the company closed a $32.5m 3-year secured export facility to finance fruit exports to Germany. Banacol is the largest producer and second largest exporter of bananas from Colombia, and also produces and exports pineapples from Costa Rica. This would the borrower’s debut offering. Citi is managing investor meetings.