Masisa Plans Issue

Chile’s Masisa will issue up to UF2m ($94m) today, say sources with knowledge of the board products manufacturer’s plans. The company has been eyeing an issue that could have come as early as last Friday, but chose to hold off until the start of September, in a move that sources say could make the issue more compelling for large investors. 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. Masisa is also understood to be looking next year to the international markets for additional refinancing.