Winery Preps Domestic Bond Issue

Vina Concha y Toro will look to tap Chile’s local bond market on November 14, raising up to UF1.5m ($71m) to refinance short-term debt. The Chilean winemaker can choose from a 6-year UF-denominated tranche with a 3-year grace period and 3.50% coupon, a 12-year UF tranche with a 2-year grace period and 3.60%coupon, and a 12-year UF tranche with a 7-year grace period and 3.60%coupon. Banchile-Citi leads the deal, which held its roadshow last week. Concha y Toro is rated AA/AA minus on a national scale.