Chilean Transmitter Plans Local Bonds

Chilean power Transmitter Transelec is looking to return to the local debt markets after more than a year. It has approved a program to issue up to UF20m ($745m) in 10- and 30-year bonds, to be denominated in the UF inflation unit, US dollars or pesos, it says. Transelec did not indicate when it plans to conduct the first sale from the program. Its last local bond came in April 2008, when it sold UF0.5m in 4.25% 2027 notes.