Chile Pulp Firm Reopens Local DCM

Chile Pulp Firm Reopens Local DCM

Chile

Chilean forestry products firm Celulosa Arauco has reopened the country’s local debt markets after a dry period of more than 6 weeks, underscoring the belief that there is still firm domestic demand out there. Chile had been among the region’s last to succumb to the international credit shutdown, and bankers hope the $203m-equivalent transaction is an indication that stability may be starting to return. Arauco placed UF5m ($169m) in 21-year notes with a 10-year grace period at 93.92 and a 4.25%

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