Masisa Set for Roadshow

Chile’s Masisa expects to start a roadshow Tuesday for a domestic bond issue of up to UF2m ($94m), expected at the end of the month or in early September. The board products manufacturer can choose from a 5.00% 2017 bullet bond and a 5.30% 2033 note with a 10-year grace period. Proceeds would refinance existing debt. BCI and Scotia are leads on the deal, rated A minus on a local scale. Masisa is also heard looking next year to the international markets as an option for additional refinancing. Earlier this month, Masisa agreed to acquire the Rexcel particle board business from Mexico’s Grupo Kuo for $54m plus working capital through the close of the deal.