Chile Transmission Charges up Bonds

Chilean electric transmission company CGE Transmision is preparing to issue up to UF7.9m ($306m) in domestic bonds denominated in CLP or the UF inflation linked unit. The issuer can choose from 3.9% 2014 bonds, 4.4% 2019s and 4.8% 2031s denominated in UF, or 6.2% 2014 CLP-denominated notes. LarrainVial and HSBC are managing the transaction, rated AA+ on a national scale. CGE started roadshowing the deal last week, and is has set August 13 as the pricing date, according to regulatory documents. Proceeds will fund the repayment of existing debt, including some $220m in 7.875% 2011 dollar bonds that it has repurchased through a tender offer closed last week. CGE says it received orders for $352.5m of the bonds in the tender, which had a limit of $220m. HSBC was dealer-manager on the buyback.