Aguas Andinas Set for Local Bond

Chilean water utility Aguas Andinas plans today to raise up to UF1.650m ($72m) in the local bond market, using proceeds to finance investment. The water utility can choose between a 10-year inflation-linked UF-denominated bullet with a coupon of 3.7% and a 20.5-year UF bullet with a coupon of 4.0%. Banchile-Citi and Corpbanca are leading the issue, which has a rating of AA+ on a national scale. Meanwhile, private medical group Empresas Red Salud is on the road with Celfin and IMTrust for a possible bond issue this month, as is BancoEstado, which is expected to price next week. It is managing its own sale.