Pichincha Considers Dollar Bond

Ecuador’s Banco Pichincha continues to evaluate opportunities to issue a dollar bond in the international markets, says Pichincha general manager Fernando Pozo. Timing has yet to be determined, though a $100m bond is one of several options being considered. Active on the M&A front, the potential issuer has kept busy by purchasing assets locally and abroad. Over the last twelve months, it has snapped up targets in Ecuador from GAMC and Lloyds Bank and is currently eyeing buys in Spain. Pichincha works with NY-based M&A boutique investment firm Athelera and has yet to select banks for a potential bond transaction. Pichincha has issued shorter term dollar debt, but has yet to sell long-term debt internationally.