Chile Wireless Lands CLP Bonds

Telefonica Moviles Chile has sold CLP32bn ($59.3m) in 2014 bonds in the local market. The mobile phone operator better known as Movistar priced the notes at 99.61 with a 5.60% coupon to yield 5.69%. It plans to use proceeds from the sale, rated AA/AA+ on a national scale, to repay short-term debt and for working capital. IMTrust managed the transaction, and served as financial advisor along with BBVA.