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Cencosud Shopping gives a key step to its opening on the stock exchange and issues a $ 400 million bond



The deal that had AA + risk rating provided by Feller-Rate and Humphreys was executed through two series of bonds:

The previous weight that Cencosud Shopping would have made before it became public was completed. The retailer came out on the market and issued a bond for UF 10 million (about US $ 400 million).

The deal, carried out by Santander Corredores de Bolsa Ltda and Scotiabank Chile, marks the cornerstone of the biggest problem so far this year.

The deal, which had AA + risk rating provided by Feller-Rate and Humphreys executed through two series of bonds:

– The A series, structured at 10 years, has a yield of 1.79%, which is a spread of 64 basis points above the reference rate, which is 31 basis points during the auction.
– Series B, structured at 25 years, has a yield of 2.24%, representing a spread of 70 basis points above the reference rate, by 21 basis points during the auction.

"Series A was put at the lowest rate in the history of a 10-year corporate bond issue on the Chilean capital market, marking a milestone for the company," says a statement from Cencosud's subsidiary.

The investors that remained the most stocks were AFP, mutual funds and insurance companies.

The idea is that the resources of the operation will strengthen the company's financial position before its debut as it will be more accessible to the stock market after the company is already funded with debt.


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