Saesa, Araucana Plan Local Bonds

Chilean electricity transmission company Saesa and finance company Caja de Compensacion La Araucana are issuing local bonds, according to 3 bankers away from the deals. The bankers said both deals could price as early as Thursday. Saesa is planning a UF4m ($179m) 21-year bond that will be used to pay down previous debt. IM Trust is heard leading the issue. La Araucana is heard seeking a CLP20bn 5-year local issue to be led by Itau Chile out of a CLP45bn ($94m) shelf. In April, Chilean water utility Aguas Sandinas placed a UF1.75m 21-year yielding 4.08%. In August, financial services company Factorline issued CLP20.00bn ($40.00m) of 2015 that yielded 6.88%.