Vapores Advances Rights offer

Chile’s Compania Sud Americana de Vapores has approved a $500m equity capital raise, it says. The Grupo Luksic-controlled shipping company is looking for funds after agreeing earlier this year to spend $570m on new ships from Samsung for delivery in 2014, and exercising an option to prepay $258m in debt. It will also use a loan of up to $140m with Bladex to prepay the debt. The timing remains unclear. Vapores shares closed Monday at CLP42.01 ($0.001)