Chilean OTTP Holdco Readies Domestic Bonds

Inversiones Southwater, an Ontario Teachers’ Pension Plan-controlled holdco for 4 Chilean water assets, is planning to raise up to UF5.6m ($263m) in local bonds. Southwater has filed to establish debt programs to issue bonds with tenors of up to 10 and 30 years. It is looking to fund the July increase of its controlling positions in Essbio and Esval, according to Feller Ratings, which rates the bonds A+. Banco de Chile is managing the issuance. Southwater last came to market in 2009, raising UF2.2m.