Ripley Readies Domestic Bonds

Chilean retailer Ripley is set to conclude today meetings with investors to support the sale of up to UF3.5m in domestic inflation-linked bonds. The AA minus/A+ issuer has been presenting since Tuesday for the sale expected to price June 25. Ripley will place a combination of 6% 2016 peso-denominated notes featuring a 3-year grace period, 4% 2016 UF-denominated notes with a 3-year grace period and 5% 2030 notes with 10-years’ grace. Proceeds will repay debt. IM Trust is managing the sale.