Mall Plaza Joins Chile Bond Pipeline

Chile’s Mall Plaza could tap the domestic bond market in the first half of June for UF3m-UF4m ($134m-$179m), according to a source familiar with the process. The mall operator unit of Falabella would likely look at a 2-tranche deal, a shorter tranche at 5 or 6 years and a longer tranche of 20-22 years, but more specific conditions have not yet been established. Proceeds are likely to be used for refinancing and investment. Mall Plaza is rated AA on a local scale. Bookrunners are heard to be IMTrust and Santander.