Chilean Lessor Plans Local Issue

Chile’s Factorline is preparing to sell CLP20bn ($36m) in 5-year bonds. The Chilean leasing company controlled by Grupo Massu is meeting investors through Tuesday, with an aim to price the transaction August 27. The bonds are expected to have a coupon of 7.2% and proceeds will support the growth of its auto loan portfolio, it says. Banchile is managing the sale, rated A minus on a national scale.