Chile's CAP sets pricing on tender offer for 7 3/8% bonds due 2036

By Susanna Moon

Chicago, July 19 - CAP SA said it priced the cash tender offer for its 7 3/8% bonds due 2036 at 2 p.m. ET on July 19.

The company will pay $1,117.33 for each $1,000 principal amount of notes tendered by 5 p.m. ET on July 19, the expiration date. The offer began July 8.

Pricing was set using the 4 3/8% U.S. Treasury note due May 15, 2041 plus 220 basis points. The reference yield was 4.227%. The offer yield was 6.427%.

Holders also will receive accrued interest up to but not including the settlement date of July 22.

Citigroup Global Markets Inc. (800 558-3745 or collect 212 723-6108) is the dealer manager. Global Bondholder Services Corp. (866 470-3900 or collect 212 430-3774) is the depositary and information agent.

CAP is an integrated ferrous metals company based in Santiago, Chile.

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