Peru Holdco Aims for Single Digits

Peru’s Andino Investment Holding (AIH) is heard starting at 10%-area initial price talk for a $130m 2020 NC3 bond, according to sources close to the deal. Pricing could come as soon as Wednesday. The trade and transport-focused holdco is looking for funds to repay $86.5m in bank debt and finance $43.5m in capex. Bank of America Merrill Lynch, Credicorp and Goldman Sachs are managing the B+/BB minus transaction. Last year, AIH raised $43m in the ECM and sold $110m in bonds at its Terminales Portuarios Euroandinos unit, in a sale managed by Goldman Sachs.