January 23, 2013
Chile's Elecmetal has initiated the process to issue up to UF1.5m ($73m) in
Chile's Elecmetal has initiated the process to issue up to UF1.5m ($73m) in 10-year and 30-year domestic bonds, according to regulatory filings. The proceeds would be used for investment and repaying debt. A deal would be the first since 2009 for the producer and supplier of steel and iron components for the mining industry. It sold $57m-equivalent in inflation-linked 2032 bonds at a 4.50% yield in 2009, via IMTrust. Elecmetal is rated AA minus on a national scale.