Chilean Looks to Local Markets

Masisa will look to issue up to UF2m ($93.4m) in Chile’s local bond market in the third quarter, says a person familiar with the company’s plans. The board products manufacturer has registered a 10-year and 30-year line, and is working with BCI and Scotia. The funds would be used to round out the company’s 2012 refinancing plans. In December, Masisa borrowed from a group of local banks, to the same end. Masisa is also planning to look next year to the international markets as an option for additional refinancing in 2013 and 2014.