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Santiago subway sets up bond sale

Santiago subway sets up bond sale

May 1, 2020
Metro could raise $1.5 bln in a two-part deal to refinance debt from expansion projects

Asset Management Bonds Debt Capital Markets Corporate & Sovereign Strategy Fixed Income Funds Project & Infrastructure Finance Structured Finance Rule 144a/ RegS Chile Latin America United States

Empresa de Transporte de Pasajeros Metro, the company that operates the subway system in Santiago, plans to go to the bond market to raise up to $1.5 billion in a two-part deal, according to a report from Fitch Ratings. Fitch said it expects to give the new notes an A rating, in line with the government's long-term sovereign ratings, the rating agency said. The notes are likely to mature in 2030 and 2050, and Metro will use the proceeds to refinance debt and cover general corporate purposes, acc

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