Vapores Ties Up FO

Chile’s Sudamericana de Vapores (CSAV) has raised CLP34.28bn ($69m) during the public portion of its equity sale, according to the Santiago Bolsa, bringing the total to the target $330m. In the rights offering portion Monday, the shipping and port operation company had raised $261m, including $171m from Luksic family holding vehicle Quinenco. The 1.41bn shares were sold at the same $0.05 price Tuesday. Vapores plans to use proceeds to fund the acquisition of new cargo vessels and to prepay a JPY24bn ($243m) loan from American Family Life Assurance Company. BTG Pactual and Santander managed the transaction.