Chile Subway to Issue Bonds Today

The subway company of Chile’s capital, Metro, says it will issue today UF4m ($169m) in bonds through a Dutch auction. The bonds, with a local AA rating from Humphreys and Fitch, have a tenor of 25 years. Proceeds will be used to help finance the $1.3bn expansion of the Santiago subway system, the company says. Santander is leading the issue.