CMPC Lays out Rights Offering Terms

CMPC Lays out Rights Offering Terms

Chile Equity

Chile’s CMPC has laid out terms for an equity rights offering, the first part of a fundraising process that could see the pulp producer raise $1.25bn in debt and equity this year. It is seeking to raise about $500m through the issue of 155m new shares to existing holders, at one share per 14.26 shares held. The process will be open May 9 to June 8 and would raise CLP271.25bn ($575m) at Thursday’s CLP1,750 closing price. CMPC is raising funds to help with the $2.1bn expansion of its Guaiba plant

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