Cabcorp Starts Investor Meetings

The Central American Bottling Corporation (Cabcorp) launched investor meetings Thursday in London and Santiago, and will head to Boston, Los Angeles and the US West Coast before finishing in New York on Wednesday. The Guatemala-based anchor bottler for Pepsi in Central America has been heard looking to raise $150m in the international bond markets. Citi is sole manager on the possible deal, rated Ba2/BB/BB+. Cabcorp is controlled by the Castillo family, with Pepsico holding an 18% stake. Cabcorp expanded into the Caribbean in 2009 when it bought PepsiAmericas and its territories in Puerto Rico, Jamaica and Trinidad. As of September 30, 2011, short-term maturities only amounted to $19m, versus $85m of cash on hand, according to Moody’s.