Vapores Moves Forward with Equity Raise

Chilean shipping and port operator Sudamericana de Vapores has filed for a $478m equity transaction, according to the SVS. The Grupo Luksic-controlled is looking to issue up to 6.45bn common shares, following shareholder approval earlier this year. It is raising funds to purchase new vessels and prepay a $260m loan from American Family Life Assurance Company. It also planned to use a loan of up to $140m with Bladex to prepay the debt. The timing remains to be set.