Aguas Andinas Seeks Bond Sale

Chile water utility Aguas Andinas says it plans to issue up to UF4m ($168.8m) to refinance debt and finance investments. It adds that the issue will be made either in UF or in CLP. A company spokesman says the sale is expected to take place early in 2010 and that banks to manage the sale have not been selected yet. In May, Aguas Andinas sold UF2m 2015 bonds with a 3.1% coupon priced at 99.24 and yielding 3.88%, and UF1m in 2017 bonds with a 3.6% coupon to yield 4.27%. LarrainVial and BBVA managed that transaction, which was rated AA+ on a domestic scale.