Chilean Glassmaker Set for Local Bonds

Cristalerias de Chile is set to sell today $76m equivalent in inflation-linked bonds on Chile’s domestic market. The glassmaker is offering investors UF2m ($76.4m) through a combination of 3.25% coupon 2014 bonds and 3.75% of 2030s that feature a 2-year grace period. Proceeds from the sale, rated AA on a national scale, will refinance debt. IM Trust is managing the transaction. Cristalerias last visited the domestic market in 2005, selling $54m equivalent in 3.4% of 2026 UF bonds, also via IM Trust.