Winery Set for CLP Issue

Vina Concha y Toro is scheduled to tap Chile’s local bond market today, raising up to UF1.5m ($71m) to refinance short-term debt. The Chilean winemaker is expected to pick among a 12-year UF series with a 7-year grace period and 3.60% coupon, and a 6-year UF-tranche with a three-year grace period and 3.50% coupon. Banchile-Citi is managing the deal, rated AA/AA minus on a national scale.