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Metro de Santiago raises USD1.50 billion via bonds, Chile [free access]

May 14, 2020

Metro de Santiago has issued bonds worth USD1.50 billion in the international market. Over 370 investors had participated in the issue of bonds and the issue was oversubscribed 4.8 times. The funds will be used to prepay the current debt and to optimise the financial structure of the company.

 

The company had launched two series of bonds: bonds worth USD500 million, carrying a coupon rate of 3.65 per cent and having a maturity of 10 years as well as bonds worth USD1 billion, carrying a coupon rate of 4.70 per cent and having a maturity of 30 years. The coupon payment will be made twice a year. The first coupon payment will be made in early-November 2020. Morgan Stanley and Scotiabank have provided advisory services for raising the debt.

 

Metro de Santiago is the developer and operator of Santiago Metro. The current network comprises six lines which collectively span 140.2 km and cover 136 stations. By 2026, the network will be further expanded by 75 km.