Guatemalan Bank Targets Bond

Guatemala’s G&T Continental is heard to be among the borrowers looking at the January issuance window, according to sources familiar with the bank’s plans. G&T is likely interested in a deal similar to domestic competitor Banco Industrial’s $500m 2022 sold in October. Bank of America Merrill Lynch is heard to have the mandate. “G&T is looking at the international bond market as it seeks to strengthen and support expansion of organic growth and address shorter-term maturities at attractive funding costs,” says an analyst familiar with the borrower’s plans. A sale would be the BB/BB rated borrower’s international debut, according to Dealogic data. The bank was established in 2001 after the merger of Banco Granai & Townson and Banco Continental. G&T is part of Corporacion G&T Continental, a holding company for 16 entities with operations in Guatemala, El Salvador, Costa Rica and Panama.