Chile’s Security Primes UF Note

Chilean financial conglomerate Grupo Security says it plans to issue up to UF1.25m in 2032 bonds, to be priced at 4.5%. At least 30% of the proceeds will be used to refinance debt and the rest will be put towards capex. The issue is rated A+ on a local scale by ratings agencies Fitch and Feller. Grupo Security has holdings in the investment banking, insurance and banking sectors and has more than $8bn in assets under management. IMTrust is managing the deal.