Cristales, Factorline Place Chilean Bonds

Chile’s domestic bond market has seen glassmaker Cristalerias de Chile sell $76m-equivalent in inflation-linked bonds and leasing company Factorline place CLP20bn in peso-dominated bonds. Cristalerias sold UF1m ($38m) in 2014 bonds at 100.04 with a 3.25% coupon to yield 3.24%, and UF1m in 2030s featuring a 2-year grace period at 97.95 with a 3.75% coupon to yield 3.98%. Proceeds from the sale, rated AA on a national scale, will refinance debt. IM Trust led. Separately, Factorline sold CLP20bn ($36m) in 2014 bonds at 99.89 with a 7.00% coupon to yield 7.00%. The leasing company controlled by Grupo Massu plans to use proceeds to support the growth of its auto loan portfolio. Banchile is managed the sale, rated A minus on a national scale.