Masisa to Issue Debut USD Bond

Chilean board products manufacturer Masisa plans to raise $200m-$250m in what would be its debut USD bond offering in the first quarter of 2012, says CFO Eugenio Arteaga. The company is still deciding between a 5-year or 10-year tenor for the planned 144A transaction and expects to mandate banks in the first two weeks of November. The company is raising funds to refinance existing debt. In January 2009, it sold $103m-equivalent in 2029 domestic bonds denominated in the UF inflation-linked unit. That transaction was led by BBVA and priced at 6.42% yield, with a rating of A on a national scale.