Santiago Metro finds deep demand for 30 year

Chile, Latin America
By Oliver West
19 Jan 2017

Sovereign issuers may have grabbed the headlines in Lat Am bonds on Wednesday, but the operator of Santiago’s metro system was certainly able to attract enough investor attention as it raised $500m of funding on Wednesday.

Empresa de Transporte de Pasajeros Metro, which had been on an extensive roadshow with Bank of America Merrill Lynch and JP Morgan, announced initial price thoughts of 250bp over US Treasuries on Wednesday morning for a new 30 year senior unsecured trade.

Orders reached $3.5bn, according to an investor ...

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