Cencosud Sets Out Local Bond Stall

Chilean retailer Cencosud is set to issue up to UF5.5m ($205m) in peso and UF-denominated bonds in the local market. In a sale expected Thursday, it may place a combination of 4.11% 2015 UF bonds, 5.8% 2015 peso bonds and 4.7% 2030 UF bonds. Cencosud plans to use the proceeds to refinance existing debt. BBVA is managing the transaction, rated AA on a national scale. The retailer last visited the domestic market in January, selling UF3m in 5.70% 2030 bonds at par.