CFR Eyes Local Market

Chile’s CFR has started the registration process for a domestic bond issuance of up to UF4m ($184m), it says, registering tranches of up to 10 and 30 years. It would be the Chilean pharmaceutical company’s first bond issuance. Proceeds could be used for planned M&A activity. IMTrust and Santander are leading the deal, which could happen in the next few months, according to a person familiar with the plans, depending on M&A activity and market conditions. CFR has an A+ national-scale rating.