EFE Issue Chugs Forward

EFE will look to issue up to UF7.8m ($370m) in Chile’s local bond market on December 6, say sources familiar with the state railway company’s plans. It can choose from a 21-year UF tranche with a 15-year grace period and 3.7% coupon, and a 25-year UF bullet tranche, also with a 3.7% coupon. 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 2006.