Copeval Considering UF Bond

Chile agribusiness Copeval is considering issuing up to UF2.5m ($110m) in local bonds to fund capex, say bankers away from the deal. The issue will consist of at least 2 pieces, one with a 10-year tenor and the other for 30 years. The BBB+ notes could have a spread of around 150bp over the BCU benchmark, the bankers say, but caution that this could be affected by recent market intervention, which has pushed the benchmark out 20bp-25bp. IM Trust is heard leading the sale.