Maipo Buys La Polar Debt

Maipo Buys La Polar Debt

Bonds

An investment vehicle owned by Chile’s La Polar bought CLP175bn ($131m) of a 2032 junior note from bondholders at 10% of par Thursday. The buyback accounts for around 30% of the UF11m bond, less than the 70% targeted. The note being bought back is the output security from a $900m-equivalent debt swap by La Polar, which closes July 7. In that transaction, bondholders can tender old La Polar debt for a new CLP198.8bn 4% 2022 senior bond and the junior note being bought by Maipo. The coupon on the

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