Sonda Logs Local Bond Sale

Chilean IT company Sonda says it has registered with the local regulator a 25-year bond issue for UF3m ($124m). Proceeds will be used to finance the company’s expansion plans and to refinance debt, the company says. Celfin Capital is managing the sale. In August, Sonda expressed interest in acquiring industry peer Quintec for CLP150 per share or $43m in cash and soon after increased its offer to CLP165 per share or $49m after the target balked at the initial offer. Nevertheless, the offer was declared unsuccessful later in the same month. Celfin’s equity research team, which rates the company a buy, expects it to pursue other acquisition opportunities. It adds that Sonda reported net profit of CLP8.4m in Q3 2009, up 2.1% from the corresponding period of the previous year.