Falabella To Sell Bonds

Chilean retailer Falabella is to issue local inflation-linked bonds worth $287 million (UF8 million). The company will issue the securities in two series: Series E will carry a five-year maturity and Series F a 21-year maturity. Falabella is using the capital-raising to help fund its ambitious expansion plans. The Chilean retailer is looking to overtake rival regional retailer Walmex of Mexico, currently the sector leader in Latin America, with a market value of $26 million compared with Falabella’s $7.4 million.