La Polar Preps Bonds for Restructuring Commitment

La Polar Preps Bonds for Restructuring Commitment

Chile Bonds Corporate & Sovereign Strategy

Chile's La Polar is preparing two new series of bonds, to be issued as part of the debt restructuring agreement it made in 2011. A CLP198.8bn ($390m) 2022 bond pays a 4.0% coupon, stepping up to 6.0% after one year, and 10.0% after two. A second, 2032 UF11m ($499m) subordinated bullet bond does not have an interest rate, according to a prospectus. Officials at the retailer were not available for additional comment. The new bonds will be issued to replace debt that the retailer agreed to restruct

Already have an account?

Free trial

Take a free two-week trial now for the latest news, data and market analysis.

Free Trial