Chilean Scoops up Local Funds

Chilean Scoops up Local Funds

Chile Bonds

Chile’s CFR Pharmaceuticals has sold UF1m ($45m) in 5-year bonds in the domestic market, according to people following the transaction. The pharmaceutical company priced at 99.12 with a 3.50% coupon to yield 3.70%, or government bonds plus 164bp. CFR is in need of debt funds for general corporate purposes, with 75% heard to be destined for working capital and about 25% for organic growth. IMTrust and Santander managed the transaction, rated A+/A on a domestic scale. CFR is separately pursuing $7

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