EFE Issue Gets Ready to Roll

EFE is heard planning to tap the Chilean domestic debt market in the first week of December, according to people familiar with the state railway company’s plans. It is heard looking to issue $350m-equivalent in UF-denominated bonds, at a maturity of more than 20 years and a with coupon in the range of 3.7%. The proceeds are expected to be used for refinancing liabilities and financing the company’s plans. Banchile-Citi is managing the transaction, rated AAA on a national scale and guaranteed by the state. EFE last issued in the domestic bond market in 2005, according to Dealogic data.