Quinenco Taps Domestic Market

Chilean holding company Quinenco came to the local bond markets last week to raise 7m inflation-linked UF units, or the equivalent of $323m, through a 2-tranche issue. The 4.5m UF 21-year came at 3.95%, while a 2.5m UF 7-year offered 3.49% coupon. Proceeds are going to finance investments and repay debt. The bonds carry a AA- rating. Leads were BanChile (Citi) and BBVA.