Chilean Property Manager Prices Bond

Chilean Property Manager Prices Bond

Chile Bonds

Sociedad de Rentas Comerciales has sold UF1m ($43.8m) in Chile’s domestic bond market, according to people familiar with the transaction. The property company priced the 21-year bonds at 96.79, with a 4.00% coupon to yield 4.30%, or 185bp wide to government bonds. The bonds have a 10-year grace period. Half of the funds raised are expected to be used to refinance long term liabilities and the other half to finance the issuer’s investment program. IMTrust led the sale, rated A/AA minus on a natio

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