About Carza and its Relevance
Carza is a Monterrey-based company specializing in residential development and construction. The firm has recently raised 113 million 488,731.82 pesos through the subsequent issuance of a Certificado de Capital de Desarrollo (CKD) with a three-year maturity on the Bolsa Mexicana de Valores (BMV).
Understanding CKD and Capital Calls
A Certificado de Capital de Desarrollo (CKD) is a financial instrument that allows companies to raise capital for expansion purposes. In this case, Carza issued a subsequent CKD under a program approved for up to 2.47 billion pesos (130 million USD) over ten years, extendable by two additional periods of two years.
Capital calls refer to subsequent emissions of the original title by a company to continue its expansion process. Investors who initially purchased the CKD can participate in the call, or new participants can join.
Details of the Recent Issuance
The newly issued bond, with the ticker ‘CARZACK 18’, has a term of approximately three years (951 days).
The funds raised will be allocated towards the third phase of the “Cumbres Magnolia Privada Lirio y Privada Laurel” and “Cantera Turquesa” projects, as well as covering issuance and placement expenses for the 13th subsequent emission, according to Carza’s communication.
Monex Casa de Bolsa acted as the common representative for CKD holders.
Carza’s Fundraising History
Through the initial emission and 13 capital calls, Carza has successfully raised approximately 2.457 billion 878,909.89 pesos (129.293 million USD).
In late January 2018, Carza conducted its first CKD emission on the Bolsa Mexicana de Valores (BMV) for a total amount of 2.47 billion pesos.
Key Questions and Answers
- Who is Carza? Carza is a Monterrey-based company specializing in residential development and construction.
- What is a Certificado de Capital de Desarrollo (CKD)? A CKD is a financial instrument that enables companies to raise capital for expansion purposes.
- What are capital calls? Capital calls refer to subsequent emissions of the original title by a company to continue its expansion process.
- How will the raised funds be used? The funds will finance the third phase of the “Cumbres Magnolia Privada Lirio y Privada Laurel” and “Cantera Turquesa” projects, along with covering issuance and placement expenses for the 13th subsequent emission.
- How much has Carza raised so far? Through the initial emission and 13 capital calls, Carza has successfully raised approximately 2.457 billion 878,909.89 pesos (129.293 million USD).
