CMR Falabella Issues Bonds

Colombia’s CMR Falabella, a credit services unit of Chilean retailer Falabella, has issued COP42.6bn ($23.5m) in 2 tranches, one due in 36 months and the other in 60 months. The 36-month notes pay 3.9% over IPC and the 60-month notes pay 4.5% over IPC. Total demand for the AAA rated notes was COP53.1bn. In June, the company offered to sell COP100bn in bonds but total demand was just COP50.4bn, which is what it ended up selling. Correval is managing the issues.