Investors snap up US$27m Soboce bonds

Investors snap up US$27m Soboce bonds
Published: 26 March 2004

Soboce, Bolivia’s leading cement producer, has sold US$27m of a US$35m bond issue within the first two days, Los Tiempos reported. The issue was launched Monday to raise funds to restructure its debt profile.  "This demonstrates the prestige and investor confidence in our company," general manager Armando Gumucio told BNamericas.  "The other strategic benefit of the issue is to optimize the use of our [financial] guarantees. The [bond] issue will keep them [the guarantees] free for the future financing for the Viacha and Warnes plants that have a value of over $US80m," said Gumucio.  Gumucio told BNamericas that the company is preparing itself for additional business in the south of the country that in the next few years is expected to benefit from infrastructure investment related to the gas industry.  This is Soboce’s fourth bond issue, bringing to over US$100mn the value of bonds the company has issued.