Camposol has announced a bond issue to pay off debt and improve its financial flexibility.
The company, whose credit ratings have been upgraded following a corporate reorganisation, is proposing a seven-year, US$350m senior unsecured trade at 6 per cent coupon.
Camposol has just completed a global roadshow, visiting more than 120 investors in seven cities in South America, the US and Europe.
This is Camposol’s third attempt at a bond sale, having been forced to abandon the previous two due to adverse market conditions.
CEO Jorge Ramírez said: “This issuance will allow the company to secure its investment plan, which includes becoming a year-round supplier of it products.”
Camposol reported record earnings in 2018, with EBITDA climbing 19.7 per cent to US$150.2m.
The company said it continued to focus on becoming a year-round supplier by rolling out its vertically integrated and sustainable supply model.