Chile’s Embonor Issues $54m Inflation-Linked

Chilean Coca-Cola bottler Embonor tapped the local bond market for $54m worth of UF denominated inflation-linked notes at a spread of 94bp over the 10-year central bank bond, to yield 4.13%. The deal came in line with market expectations, a local investor who participated on the deal tells LatinFinance. While broad guidance was issued at 85bp-110bp over the BCU, market expectations were at the 90bp-100bp level. “It’s a good price for us and the company,” says the investor. Larrain Vial, a local brokerage and bank, led the offering.