Sodimac to Issue Local Bonds

Sodimac, the home improvement unit of Chilean retailer Falabella, is looking to issue UF4.5m ($161m) in a dual-tranche local bond transaction. It wants to sell UF3m in 10-year notes and UF1.5m in 30-year paper. The date of the issuance has not yet been determined, according to a lead banker. Banco de Chile is managing the sale. Falabella’s mall operator, Mall Plaza, came to the market last week with a UF3.5m transaction. Falabella told LatinFinance in February that it was considering issuing around $500m in local currency bonds in Chile, Argentina, Peru and Colombia to finance its investment plans for the next 5 years. It plans to invest up to $3.5bn and open 215 stores and 16 shopping malls.