Peruvian produce multinational Camposol says it has issued a US$350m bond at a 6% coupon and a seven-year maturity, with a demand that exceeded US$2bn.

International credit agencies Fitch and Moodys upgraded to BB- and Ba3 the Camposol bonds.

The transaction will refinance existing debt and has the objective of increasing maturities and release all collateral, in order to give the company more financial flexibility, Camposol said.

During a global roadshow, the company visited more than 120 investors in seven cities of South America, the United States and Europe.

“This issuance will allow the company to secure its investment plan, which includes becoming a year-round supplier of its products," said Jorge Ramírez, Camposol’s CEO.

Campsool lsat year announced it had notched a 20% year-on-year EBITDA increase to US$150.2min 2018, driven largely by a significant rise in blueberry volumes.