Compartamos sells US$38mn in bonds in local market
Bnamericas Published: Monday, July 20, 2009
Mexican microfinance bank Compartamos Banco has sold 500mn pesos (US$37.6mn) in bonds on the local market. The three-year bonds were sold at a coupon rate of 200 basis points above the interbank interest rate TIIE, "in line with Compartamos' interest rate expectations," the bank said in a filing with the Mexican stock exchange. Compartamos said this transaction reinforces the bank's financial and liquidity position and reaffirms its ability to access diversified funding sources to meet growth expected in the upcoming years. The bonds were rated at mxAA- by S&P and AA-(mex) by Fitch.
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