Chile Group Readies Local Bonds

Sigdo Koppers has launched investor presentations in preparation for Thursday’s sale of up to $107m-equivalent in bonds denominated in the UF inflation-linked unit. Depending on demand, the Chilean industrial conglomerate can issue any combination of 6.15% of 2019 peso-denominated bonds, 4.1% of 2019 UF-denominated bonds and 4.5% of 2030 UF-denominated bonds. The two 10-year series come with a 5-year grace period, and the 21-year notes feature a 10-year grace period. Proceeds will refinance debt and aid new investment. Banchile and BBVA are managing the sale, rated A on a national scale.