Iansa Issues UF Bonds

Chilean agribusiness holding company Iansa has issued UF1.59m ($70.00m) in local 7-year bonds, getting slightly more than UF2.00m in demand, says a banker on the deal. The BB+ rated notes pay 4.14% over inflation. According to the banker, this was 149bp over the BCU-5 benchmark, in line with his expectations. A banker away from the deal had expected the deal to price around 150bp over BCU-5. The notes have an average duration of 4.7 years, the banker says. Proceeds will be used to pay down existing bonds and to refinance debt. Celfin managed the sale.