Chile’s Saesa has issued UF2.5m ($120m) in 21-year bonds with a 10-year grace period in the domestic bond market. The electric transmission company priced the bonds at 97.85, with a 3.75% coupon of to yield 3.94%, or government bonds plus 125bp. The proceeds will be used to refinance debt. IMTrust and BCI managed the transaction, rated AA/AA on a national scale. Saesa sold UF2m in domestic bonds in its previous deal in October 2011.