Telefonica Does High Grade Chile Bond

CTC Chile has sold $180m equivalent in bonds denominated in the UF inflation-linked unit on the local market, it says. The Chilean unit of Spain’s Telefonica priced UF5m ($180m) in 2014 notes priced at 101.20 with a 3.50% coupon to yield 3.23%. It had filed to sell up to UF6m in 5 and 10-year notes. The funds proceeds the issue will refinance a bank loan due at the end of the year. BBVA managed the sale, rated AAA on a national scale. Regional rival America Movil is also preparing an issue, to be the first by a foreign corporate in Chilean currency, expected within the next week. The operator of the Claro brand in Chile has yet to set a date for the sale of up to UF4m in 3% 5-year notes via Banchile, denominate in UF and/or CLP.