Transelec Lays Down Shelf

Chile’s Transelec is planning to raise up to UF10m ($439m) in new debt, after receiving shareholder approval for a new 1-year debt shelf. The power transmission company may sell dollar bonds, domestic bonds denominated in USD, CLP or the UF inflation-linked unit, or sign bank loans. It does not specify use of proceeds or any specific upcoming transaction. The issuer has preferred domestic markets to cross-border in recent years, having most recently raised $132m equivalent in December 2009, and tendering earlier that year to swap $220m in dollar debt to pesos.