Cencosud Keeps Chile Bonds on Ice

Chilean retail conglomerate Cencosud has put a bond issuance on hold, a company spokeswoman tells LatinFinance. “The company filed to issue the bonds, but there are no plans to issue them,” says a banker on the deal, who declines to comment on reasons for the delay. A Santiago-based banker not on the deal says he believes the issue will happen in January. Celfin Capital is the lead. Documents filed with the Superintendencia de Valores y Seguros show that Cencosud filed to issue up to UF6m ($210m) in 4 series. Series G will have an interest rate of 4.7% amortizing in 2016. Series H, amortizing in 2019, has an interest rate of 180-day Libor plus 2.5% and is callable starting October 15 2013. Series I, amortizing in 2017, has an interest rate of 4.7% and is also callable October 15 2013. Series J has an interest rate of 4.8% and amortize in 2029. It is callable October 15 2018.