Mexico: Compartamos Banco Issues Long Term Debt

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Oct 2010
Mexico City, Mexico, October, 14 2010 - Banco Compartamos, S.A., Institución de Banca Multiple (“Compartamos” or “the Bank”) (BMV: COMPARTO) informs that it has obtained Ps. 1,000 million through the public issuance of Local Bank Bonds (‘Certificados Bursátiles Bancarios’) in the local debt capital markets for a tenor of 5 years at an interest rate of TIIE plus 130 basis points, in line with Compartamos’ interest rate expectations.

The Local Bank Bonds obtained a credit rating from Standard & Poors of “mxAA” and “AA-(mex)” from Fitch Ratings. This transaction reinforces the Bank's strong financial and liquidity position and reaffirms its ability to access diversified funding sources to meet expected growth for the upcoming years.

Banco Compartamos, S.A., a Mexican bank specialized in microfinance is the largest lender to microbusiness owners in Latin America. Established in 1990 and headquartered in Mexico City, Compartamos provides small loans to low-income Mexican individuals and business owners, such as craft manufacturers, food vendors and other small businesses. With nationwide coverage, Compartamos works with local and international lenders to secure financing to these market segments, which are currently underserved.

Banco Compartamos shares began trading on the Mexican Stock Exchange on April 25 2007 under the ticker symbol “COMPART”.



Source : BusinessWire
 

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