Copeval Board OKs Issue

The board of Chile-based agribusiness company Copeval has approved a bond issue of up to UF2.5m ($108m) and is now seeking authorization from local regulators. The issue will be done in 2 tranches, one for up to 10 years and the other for up to 30 years. Proceeds of the non-convertible notes would be used to pay down short and long-term debt and for capex. Copeval has not selected banks to lead the process.