SMU Shops for 7% Handle

SMU Shops for 7% Handle

Chile Bonds

Chile’s Grupo SMU is out with high-7% to 8% initial price talk for what is expected to be a $300m senior unsecured 2020 NC4 bond sale, according to people familiar with the process. The B2/B borrower is expected to price as soon as today. Ba2/BB minus Peruvian retailer Maestro’s 2019 NC4 and Baa3/BBB minus Chilean supermarket operator Cencosud are seen as providing reference points. The notes are guaranteed by the four main operating entities of SMU which collectively represent 95% of consolidat

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