La Polar Entity Readies Sub Debt Buyback

La Polar Entity Readies Sub Debt Buyback

Chile Bonds Corporate & Sovereign Strategy

An investment vehicle owned by Chile’s La Polar is planning to buy up to CLP17.5bn ($35m) in junior debt from creditors, according to a regulatory filing. The move is piece of the $900m-equivalent debt exchange process swapping creditors’ existing La Polar debt for newly issued senior and junior bonds. In an offer open through Friday, the retailer’s recently-created Maipo investment vehicle is offering to repurchase the newly issued junior bonds from creditors who are participating in the exchan

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