Chilean Industrial Places Private USD Notes

Chilean holding company Inversiones Oro Blanco has raised $200m by issuing a dollar bond and taking out a bank loan. The controller of SQM a fertilizer and chemical producer, and Pampa Calichera, a publicly listed subsidiary with holdings in other assets, sold $100m in 5-year 8.5% bonds at par in a RegS offering. The bonds are guaranteed by Calichera shares. The issue was sold to 20 plus, mostly Chilean, investors, says an Oro Blanco official. The deal, managed by LarrainVial and Celfin, is the fourth Chilean USD issue following much larger placements from investment grade credits Coldelco, ENAP and Arauco. Oro Blanco also says its parent company Norte Grande has signed a $100m 5-year loan with Banco de Credito e Inversiones and Banco Itau Chile, of which $80m will go to Oro Blanco. The official declines to disclose the interest rate on the loan.