Chile's Masisa to issue dual tranches of bonds for up to UF 5.5 million

By Reshmi Basu

New York, Sept. 14 - Masisa SA said it received approval from its board of directors to issue a dual tranche offering of bonds totaling up to UF 5.5 million on the Chilean market.

One tranche will carry a size of up to UF 5.5 million in bonds with a maturity up to 10 years. The second tranche will amount to up to UF 3 million in bonds with a maturity up to 25 years.

The total of the deal will not exceed UF 5.5 million.

The proceeds of these bonds will be used to repay financial obligations.

Santiago, Chile-based Masisa, through its subsidiaries, produces particle boards, medium-density fiberboards and its oriented strand boards in Latin America.

UF or Unidades de Fomento is a Chilean financial index adjusted for changes in the Chilean consumer price index.

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