Agrosuper Eyes Local Debt

Chilean food products company Agrosuper is indicating that it may raise up to $400m equivalent in the local bond markets during 2H. This comes after it established a program that allows it to sell up to UF8.5m ($403m) in 10 or 30-year bonds. Proceeds would be used to repay debt and for expansion. It has not yet indicated whether banks have been mandated, and finance officials could not be reached for comment. Agrosuper is actively looking for capital in 2011 as it ramps up export capacity, and is also planning an IPO this year through Banchile and LarrainVial. Agrosuper specializes in ham, poultry and salmon, and has operations in Italy, China, Japan, Mexico and South Africa.