Latam lands notes in Chile

Latam lands notes in Chile

Bonds Debt Capital Markets Fixed Income Chile

Latam Airlines said it has sold UF5m ($199m) in 10-year bonds in the Chilean market, led by Credicorp Capital and Santander.

The airline priced the bullet bonds at 2.73% for a spread of 201bp over the local reference rate. The spread came down by 67bp during the Dutch auction, Latam said in a statement.

The order books were roughly two times oversubscribed, the airline added.

Latam said it will use half the money to pay off debt, while 30% will go to funding investments and 20% will go to general corporate purposes.

The airline sold $600m in cross-border bonds at 7% in February.

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