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Peru's Grana y Montero unit may issue S/. 380 million corporate bonds
By Susanna Moon
Chicago, Sept. 16 – Grana y Montero SAA subsidiary Norvial SA obtained approval at a shareholder meeting to issue up to S/. 380 million of corporate bonds in the local market and through a public offering, according to a 6-K filing with the Securities and Exchange Commission.
Proceeds will be used to pay the bridge loan that closed Jan. 15, 2014, to pay the revolving credit line and to finance the works for the second stage of the stretch of the concession and finance tax on general sales associated with the costs and expenses of the second stage.
The structuring entity is Credicorp Capital Servicios Financieros SA, the placement agent is Credicorp Capital Sociedad Agente de Bolsa SA, and the bondholder representative is Scotiabank Peru SAA.
The company also received approval for a S/. 100 million revolving credit line at the meeting.
Grana y Montero is a Lima, Peru, engineering company.
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