Banco Industrial Preps DPR Sale

Guatemala’s Banco Industrial is preparing a securitization of dollar-denominated diversified payment rights (DPR), according to Fitch which assigns a BBB rating to a $150m sale due 2025. Timing and further details were not disclosed. In September 2011, Banco Industrial closed a $150m securitization of dollar-denominated diversified payment rights (DPR) through a $40m 7-year tranche, a $60m 10-year tranche issued at a fixed rate, and a $50m in 7-year portion paying a spread over Libor. Wells Fargo managed the last private placement, rated BBB by Fitch. Banco Industrial was last in the public market in October 2012, when it sold a $500m 10-year bond.