Masisa Issue Nears

Chile’s Masisa will look to issue up to UF2m ($94m) on Friday, say sources with knowledge of the board products manufacturer’s plans. If spreads are too high, the company could hold off until the next week and aim for an issue date of Sept. 3 or 4 instead. Masisa 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. The company a roadshow last week for the deal. Masisa is also understood to be looking next year to the international markets for additional refinancing.