SMU announced Wednesday a bond placement of 2 million UF, equivalent to about US$90 million, at a 3.35% rate. The proceeds will refinance existing liabilities.
The parent of Unimarc, Alvi and Super10 in Chile and Mayorsa and Maxiahorro in Peru specified the bonds belong to series AX with a six-year bullet maturity. The transaction saw demand 1.75 times the amount placed and was advised by BCI and Santander Chile.
Arturo Silva, SMU’s corporate administration and finance manager, said: “We are very pleased with the confidence the market showed in the company and its future performance”. Institutional investors included pension funds, insurance companies and mutual funds.
The bonds hold an AA- risk rating with stable outlook from Feller Rate and Moody’s Local Chile. SMU is controlled by the Saieh family.
