Pepsi Bottler Readies Debut

Mexico’s Cultiba is preparing to raise up to MXP1.2bn ($91m) in what would be its domestic bond market debut, according to regulatory filings. The beverage company is targeting 5-year floating- rate notes to raise funds for general corporate purposes. Banorte-Ixe and Santander are managing the transaction, rated AA/AA minus on a national scale. Cultiba has a license from Pepsi to produce, distribute and sell Pepsi and several other brands and is also involved in the production of cane sugar and molasses. The issuer formerly known as Embotelladoras Unidas raised MXP3.94bn ($310m) in an equity follow-on in January that largely served as a re-IPO.