Chile Shipper in Capital Raise, Part I

Chile’s Vapores has successfully completed the first stage of its capital increase plan, raising $145m equivalent from the sale of shares. The shipping company exceeded its original goal of raising $130m, in the first phase of a 3-part $710m fundraising. The plan, announced in May, will serve to raise funds to pay debt with foreign ship owners. Stage 2 aims to raise $220m, and the third $360m. German-based clients have already committed participation guaranteeing 100% subscription of the third phase.