Aguas Andinas issues US$126mn in bonds

Wednesday, April 13, 2011

Chilean water utility Aguas Andinas has issued two bond series totaling US$126mn on the local market to finance its current investment scheme.

The first was a 22.5-year bond series issued at 1.5mn UF (Chile's inflation-linked unit; US$68.7mn), at an internal rate of return (TIR) of 3.75%, local press reported.

The second series includes 1.25mn UF in five-year bonds with a TIR of 3.18%.

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The issues were structured and placed by LarrainVial and BBVA.

Aguas Andinas, which serves Chile's metropolitan region, is controlled by Aguas de Barcelona (Agbar), owned by French group Suez Environnement.