Chile’s Cervecereas Unidas’ 10-year notes talked in high 100 bps area over Treasuries

By Cristal Cody

Chicago, Jan. 13 – Compania Cervecerias Unidas SA (CCU) is marketing an offering of 10-year notes (BBB/A-) for a spread in the high 100 basis points area over Treasuries, a market source said.

The notes will mature on Jan. 19, 2032.

BofA, Citigroup, Goldman Sachs and JPMorgan are listed as bookrunners.

The proceeds will be kept in cash and cash equivalents until needed, as there is no target project that needs that financing currently. It could also be used to finance future maturities, according to Fitch Ratings.

The Santiago-based company is a multi-category beverage company with operations in Chile, Argentina, Bolivia, Colombia, Paraguay and Uruguay.

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