Codelco Heard Picking Banks for Bond

Codelco Heard Picking Banks for Bond


Chilean state-owned copper producer Codelco is understood to have mandated and HSBC and JPMorgan for a bond issue which is unlikely to happen short term. The two apparently took the highest rated LatAm corporate credit on an extensive roadshow in September but they have kept their powder dry ever since. A $500m-$700m 10-year trade was initially expected, but the copper producer is choosing its timing with care. “The market is theoretically open for a name like Codelco,” says a banker who pitched

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