El Salvador’s Banco Agricola launches $300 million notes due June 2020 at 6¾%

By Christine Van Dusen

Atlanta, June 11 – Banco Agricola SA launched a $300 million offering of notes due in June of 2020 (expected ratings: Ba2//BB+) at 6¾%, a market source said.

BofA Merrill Lynch and Deutsche Bank are the bookrunners for the Rule 144A and Regulation S deal.

The notes will include a change-of-control put at 101%.

The proceeds will be used for working capital and general corporate purposes.

The lender is based in San Salvador.

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