Santiago Metro Issues UF Bond

Chile’s Empresa de Transporte de Pasajeros Metro has issued UF1.5m ($67m) in domestic bonds, it says. The Santiago subway operator priced the 2033 bullet at 99.54, with a 3.85% coupon, to yield 3.88% or government bonds plus 121bp. It will use the proceeds to refinance existing bank debt. Santander managed the sale, rated AA+/AA on a national scale. Metro previously issued in October 2011, placing UF5.2m in 3.75% 2022 bonds at a 4.00% yield, or government bonds plus 129bp.