Chilean Corporates Set for Bonds

Chile’s Compania Cervecerias Unidas and CMR Falabella are both set to sell bonds in the domestic market today. CCU plans to sell up to UF5m ($180m) split between 3% 2014 notes and 4.25% of 2030 bonds which feature a 10-year grace period. The brewer, whose products include the Cristal brand, plans to refinance debt with the proceeds. Celfin is managing the sale, rated AA on a national scale. Separately, CMR Falabella, the credit service unit of retailer Falabella, is planning to sell up to CLP90bn ($155m) in 5% of 2015 bonds backed by credit card receivables. BCI Securitizadora is managing the transaction, rated AAA on a national scale.