The subsidiary company of Panamá Power, operator of the hydroelectric El Alto, is seeking financing through a six year term bonds placement in the Panamanian stock market.
Hydro Caisán published on the website of the Stock Exchange of Panama the preliminary prospectus of the issue, which details the characteristics of the placement and the uses for the $90 million it seeks to raise.
Six companies will issue corporate bonds and stocks with terms of 3 to 28 years, with interest rates of up to 12.5%.
Laestrella.com.pa reports that of the issuances that are being prepared in the Panama Stock Exchange, "... the biggest will be by Banco Internacional de Costa Rica, S.A., with rotating corporate bonds for 200 million dollars with 3 or 7 year terms at a rate yet to be defined. "
Hydro Caisán requested permission for its second corporate bond issue which it aims to use to restructure liabilities.
After having completely placed a $130 million bond issue in 2012, the company Hydro Caisán, SA has asked the Superintendency of Securities (VPS) for approval for a new issue of up to $90 million, with the aim of paying off in advance the existing bonds of Generadora Pedregalito, S.A. and Generadora Alto Valle, S.A