Ajecorp Expects DCM Follow-up

Peru’s Ajecorp, which issued a $300m 10-year bond in May to 10x demand, could look to do another in about 2 years, says a person familiar with the beverage company’s plans. “The longer maturity for a lower cost creates the perfect scenario for funding,” says the person, adding that given the bond’s success, the board of directors has decided it’s a preferable option for the company’s next 5 years. Bank of America Merrill Lynch led the last deal, with Interbank, Jefferies and Rabobank acting as joint lead managers. The company is also expected to build toward an IPO and will seek to improve its ratings. It issued the bond at a 6.5% yield, and used proceeds to repay debt facilities, and the next transaction is expected to have similar purposes.