Chile’s Copec Issues C Series Bonds

Chile’s Copec Issues C Series Bonds

Chile

Empresas Copec, the Chilean fuel and forestry conglomerate, has priced UF7m ($290m) in bonds at 99.29 with a 4.00% coupon to yield 4.30%. The 21-year C series bonds have a duration of 13.94 years, with amortization starting in 2030, and are rated AA by Feller Rate and Fitch. IM Trust led the deal which priced Tuesday through Dutch auction. The C series was capped at UF10m from a 4-tranche deal that itself was for a maximum UF10m. Copec was also offering UF500 in 3.25% coupon 2014 bonds and CLP10

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