Chilean Steelmaker Places USD, CLP Bonds

Chile’s Cap has issued in the local market $173m in bonds denominated in dollars and the UF inflation-indexed unit. A UF2m (CLP40.06bn, $85.7m) 2013 tranche priced at 97.11 with a 3.1% coupon to yield 3.75%. A $87.5m 2018 dollar tranche priced at par to yield Libor plus 225bp. Proceeds from the bonds will be used to finance the company’s investment plans. Celfin Capital managed the sale.