Chilean Turns to Equity, Local bonds

Chilean Turns to Equity, Local bonds

Chile Bonds Equity

Chilean financial services company Grupo Security, which agreed in March to acquire insurance company Cruz del Sur for from the Angelini Group, plans to raise equity capital and issue domestic bonds that could total $300m-equivalent, it says. Security plans to issue approximately 368m new shares as part of a shareholder-approved capital raise, which would mean CLP71.76bn ($154m) at Tuesday's CLP195 closing price. The proceeds will be used to help cover the $300m-equivalent Cruz del Sur purchase,

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