Chilean Firms Price Local Notes

Chilean grocer Distribucion y Servicio has priced $263m in 2013 bonds denominated in the UF inflation-linked rate, at 96.94 with a 2.60% coupon to yield 3.30%. D&S plans to prepay short-term debt with proceeds. Larrain Vial managed the sale. Separately, water utility Aguas Andinas priced $109m in UF-denominated 2014 bonds at 98.940 with a 3.000% coupon to yield 3.223%. Larrain Vial and BBVA led the transaction for Aguas, a unit of Barcelona’s Sociedad General de Aguas. The company recently agreed to pay an estimated EUR105m for 51% of Empresa de Servicios Sanitarios de los Lagos.