Chilean Brewer Taps Local Liquidity

Chile’s Compania Cervecerias Unidas has sold UF5m ($180m) in inflation-linked bonds locally. The brewer of Cristal beer priced $108m equivalent in 2014 bonds with a 3.00% coupon at 99.19 to yield 3.18%, and $72m-equivalent in 4.25% of 2030 notes with a 10-year grace period at 99.41 to yield 4.30%. CCU plans to refinance debt with the proceeds, including loans due 2009 and 2010. Celfin managed the sale, rated AA on a national scale.