AG Pops in Aftermarket

AG Pops in Aftermarket

Chile Bonds

Chile’s Automotores Gildemeister (AG) priced a new $300m bond Thursday, which was up about 3.0 points in the gray, according to investors. The Chilean vehicle distributor got $2.5bn in orders and priced the 2023 NC5 at par with a 6.75% coupon to yield tight to 7.25%-area guidance. As with AG’s 2011 debut sale and subsequent retap, investors were drawn in by the scarcity value of Chilean paper. The price of the new bond indicates a concession of at least 50bp to AG’s existing 2021 NC5, according

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