Guatemalan Sets Target

Banco de los Trabajadores (Bantrab) is out with 9%-area guidance for a new $150m 2020 bond expected to price today, according to people following the transaction. The guidance comes on the tight side of low-9% initial price thoughts. The Ba3/BB Guatemalan lender completed a European, North American and Central American roadshow last week. Bantrab is seeking funds to refinance debt and support its growth efforts. Deutsche Bank and BCP Securities are managing the deal, done through a Cayman Islands SPV. Also scheduled to price today is Peru’s Andino Investment Holding (AIH), which has had indicated 10%-area price talk Monday for a $130m 2020 NC3 bond. It was heard gathering at least $50m demand as of late Tuesday. Bank of America Merrill Lynch, Credicorp and Goldman Sachs are managing the B+/BB minus transaction. The remainder of the week should see Mexican miners Fresnillo and Cobre del Mayo, as well as Brazilian ammunition maker CBC Ammo.