Agrosuper Plots Local Bond

Chilean food products company Agrosuper plans to raise up to UF5m ($230m) in the country’s domestic bond markets. The issuance is still awaiting final regulatory approval, but a banker managing the sale says it is expected in the first half of October. The issuer will choose among the following options: an up to UF5m 3.4% 2018 inflation-linked bond, an up to CLP100bn 6.1% 2018 peso-denominated bond, an up to UF5m in 3.4% 2021 inflation-linked bonds and up to UF5m in 3.8% 2032 inflation-linked bonds. Proceeds are to be used to repay debt and for expansion. Banchile and Larrain Vial are managing the sale, rated AA minus on a national scale. Agrosuper is ramping up its export capacity, and was also – at least before volatility hurt the regional new equity issuance pipeline – in the early stages of planning an IPO, also through Banchile and LarrainVial.