CFR Starts Domestic Roadshow

Chile’s CFR has started a roadshow for a new domestic bond, according to people familiar with the pharmaceutical company’s plans. It has registered to sell up to UF4m ($191m) and is expected to issue in 5 and 20-year tranches. The total size may be less than UF4m, especially if the company chooses to pursue a cross-border sale it has been heard contemplating. IMTrust and Santander are managing the transaction, rated A/A+ on a national scale. A sale would represent CFR’s first bond issuance. Proceeds could be used for M&A activity.