Financiera Efectiva issues PEN 70 million in bonds in the local capital markets


Original Source: Gestión

October 19, 2018

Financiera Efectiva S.A. (“Efectiva”) completed a public issuance of corporate bonds rated AA-/A+ by Class/Apoyo in the Peruvian capital markets, placing PEN 70 million (approximately USD 21 million) at a term of 4 years (with a 2-year grace period) and a rate of 7.21875%.

This issuance forms part of Financiera Efectiva’s second corporate bond program of up to PEN 200 million (approximately USD 60 million).

“This has been an excellent return to the markets for Financiera Efectiva. It is a key issuance for us, and we plan to be a recurring issuer in the market, strengthening our relationship with the main institutional investors as well as the large number of retail investors that have shown confidence in us. This issuance has allowed us to obtain very attractive financing conditions and diversify our funding sources”, stated the CEO of Efectiva, José Antonio Iturriaga.

Santiago Polar, Corporate Finance director at Credicorp Capital, commented that this transaction shows the consistent appetite of the market for issuers demonstrating a sustainable business model and high growth profile, as is the case of Efectiva. He also added that it has been a great opportunity to show Credicorp Capital’s ability to attract retail investor appetite, which represented over 40% of the amount placed.

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