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Peru's Compartamos Financiera to make 1st corporate bond issuance

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Peru's Compartamos Financiera to make 1st corporate bond issuance

Compartamos Financiera SA said it will soon issue corporate bonds for up to 70 million Peruvian soles, with a term of between 1.5 and two years, SEMANAeconómica reported.

The company is working on a roadshow for the issuance and expects to release news about the process in the next two or three months, according to Ralph Guerra, the company's general manager.

This is the first time that Compartamos Financiera will tap the bond market as it looks to diversify its funding sources and reduce its cost.

In 2017, the company approved its first corporate bond program for up to 400 million soles, with a term of up to three years.

As of May 23, US$1 was equivalent to 3.28 Peruvian soles.