Parque Arauco wraps up swap

Parque Arauco wraps up swap

Chile Bonds

Chile’s Parque Arauco has issued a UF3m ($120m) 25-year bond paying 360bp over UF as part of a liability management exercise that it closed last week. The shopping mall operator swapped around UF2m of its 4.3% 2029 mortgage bond into the new instrument. That represented an 80% take-up on the securitization, which is backed by Parque Arauco’s main real estate asset, the Parque Arauco Kennedy shopping mall. The borrower topped up the new 2039 to add UF1.025m from new cash on Friday, with leads IMT

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