Falabella taps local bond market to refinance debt

Falabella taps local bond market to refinance debt

Bonds Debt Fixed Income Chile Retail shopping Commerce Capital Markets

Chilean department store chain Falabella said it sold UF4 million ($152 million) worth of inflation-linked bonds in the local market to pay down debt, cover investments and use as working capital, according to a securities filing. The company sold UF3 million in a nine-year bond at a price to pay UF plus 2.81%, it said. The other UF1 million was raised through the sale of a UF1 million bond maturing in 2028 paying UF plus 2.69%. UFs, or unidades de fomento, are a unit of account adjusted for inf

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