Chilean Materials Firm Places Bonds

Chile’s Electro Metalurgica has sold $57m equivalent in inflation-linked bonds on the local market. The producer and supplier of steel and iron components for the mining industry priced UF1.5m ($57m) in 2032 bonds at 101.01 with a 4.60% coupon to yield 4.50%. The notes feature a 10-year grace period. Elecmetal plans to refinance debt with the proceeds. IM Trust managed the sale, rated AA on a national scale.