La Araucana Plans Local Foray

Chile-based financial institution Caja de Compensacion La Araucana plans to raise CLP40bn ($77m) in the local markets during the second week of December, with roadshows for the 5-year bond expected to start this week via lead BCI. The coupon has not yet been set, but interest payments are expected to be semi-annual. In December, it issued CLP10bn ($21m) in local 5-year bonds to refinance debt and offer credit to clients, while in December 2010 it raised CLP10bn in 5-year notes via Itau Chile.