CGE Places $300m Bond

Chilean power generator Compania General de Electricidad has sold $298m equivalent in bonds denominated in the UF inflation-linked unit. CGE priced $219m equivalent in 2029s at 99.01 with a 4.65% coupon to yield 4.73% and $80m equivalent in 2013s at 99.55 with a 3.75% coupon to yield 3.85%. Proceeds will be used to fund investment. BBVA Chile managed the sale. Activity in the local bond market has picked up this month, with transactions including $201m from Molymet, $118m from BancoEstado and Colbun pricing $280m in a combined UF/dollar sale.