Cencosud Set for $1.64bn in Equity

Chilean retailer Cencosud has raised CLP770.65bn ($1.64bn) at the close of the preferential period of its equity follow-on, it says. The retailer has sold 299.69bn shares at CLP2,600 each, representing close to 99% of the shares available. Proceeds from the sale, along with proceeds from a $1.25bn bond sale in November, will repay a $2.5bn bridge loan from a group of banks led by advisor JPMorgan used last year to fund the acquisition of Carrefour’s Colombian operations. Chairman Horst Paulmann’s family exercised its rights, maintaining a more than 60% stake in the company.