Santiago Metro Places Local Bond

Empresa de Transporte de Pasajeros Metro, Santiago’s subway operator, has sold UF5.2m ($225m) in domestic bonds. The 2032 note priced at 96.76 with a 3.75% coupon to yield 4.00%. It was the Metro’s largest placement to date, and will provide funds for debt repayment. Santander managed the sale, rated AA/AA minus on a national scale.