Cencosud Bags Acquisition Funds

Cencosud Bags Acquisition Funds

Chile Bonds

Investors put in more than $8.5bn in orders for Cencosud’s 2023 bonds, allowing the Chilean retailer to upsize the new issue to $1.25bn from a planned $1bn. Fresh off of a $2.6bn cross-border acquisition that made it Colombia’s second-largest retailer, the operator of supermarkets, hypermarkets, and other retail operations is raising funds to take out an 18-month bridge loan. The Baa3/BBB minus bond priced at 99.062 with a 4.875% coupon, to yield 4.993%, or UST+337.5bp, tight to 340bp-350bp guid

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