Cencosud Gets 30 Years in UF

Chilean retailer Cencosud has issued $205m equivalent in UF-denominated bonds in the local market. It priced UF4.5m ($167m) in 2030 bonds with a 4.70% coupon at 97.04 to yield 4.95%, and UF1m in 2015s at 101.13 with a 4.11% coupon to yield 3.85%. The retailer had the option to choose, based on demand, among the 2 tranches it sold and a peso-denominated 2016, but opted to sell only UF paper and allocate most of the offer in the long-dated UF tranche. Cencosud plans to use proceeds to refinance debt. BBVA managed the transaction, rated AA on a national scale. Cencosud last visited the domestic market in January, selling UF3m in 5.70% 2030 bonds at par.