Steelmaker CAP Plans Bond Issue

Chilean steelmaker Compañía de Aceros del Pacífico (CAP) has announced plans to tap the international capital markets with a $250 million bond issue. The money raised will be used to fund development plans across the company’s businesses. CAP owns iron ore mines as well as steelmaking facilities in Chile. The proposed bonds have been rated BBB- by ratings agency Fitch Ratings, based on the company’s strong industry presence.