Santiago Metro Meets Buyside

Empresa de Transporte de Pasajeros Metro, Santiago’s subway operator, is meeting investors ahead of a likely deal at the end of next week or the early part of the week starting October 10. The exact timing and makeup of the sale will depend on conditions and timely regulatory approval, a banker on the deal says. The issuer is authorized to sell up to UF6.7m ($288m) in bonds with tenors of up to 30 years, and is said to be looking toward the longer end of that range in order to match its current debt refinancing needs. Santander is managing the sale, rated AA/AA minus on a national scale.