Chilean Dreams of Local Bond

Chilean casino and hotel operator Dream could tap the country’s domestic bond market in the second half of this year, according to market observers, with some suggesting it could issue as soon as later this month or in August. It would be the company’s first issuance and it is rated single A on a domestic scale – two factors that have worked against other issuers this year. Dream has registered for UF5m ($226m) in domestic bonds of up to 10 years, and UF5m for up to 30 years. The money could be used for investments or to refinance liabilities, according to the company’s filing. Banchile-Citi is listed as the manager. The company could also consider private placement as an alternative.