Talca-Chillan Issues Bonds

Chilean toll road concessionaire Talca-Chillan issued $170 million in bonds denominated on the country’s inflation-indexed unit, the UF. The bonds were 1.6 times oversubscribed and were rated BBB by Standard & Poor’s and Baa2 by Moody’s. The company will use the funds to refinance debt and pay for additional works as required under the country’s ministry of public works traffic insurance policy.