Chile’s CMPC Sells Local Bonds

Chilean pulp and paper producer CMPC has placed $364m equivalent of inflation linked bonds in the local market. CMPC priced UF7m ($255m) in 2030s with a 4.3% coupon at 96.66 to yield 4.55%, and UF3m in 2014 bonds with a 2.9% coupon at 98.41 to yield 3.25%. It plans to use proceeds to refinance debt and help fund its investment plan. JPMorgan and Santander managed the sale, rated AA+ on a national scale.