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Grupo Security places 1.5M UF in bonds

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Grupo Security places 1.5M UF in bonds

Grupo Security SA on March 15 placed a new bond in the Chilean market worth 1.5 million UF, according to a security filing.

Demand for the offering reached 2.7 million UF, or 1.8x the amount placed, Diario Financiero reported.

The bond, which was placed via a Dutch auction, yields at the UF rate plus 3.05% and has a term of 25 years, with a grace period of 20 years and a duration of 16.5 years. The issuance is part of Grupo Security's plan to restructure liabilities.

A UF, or unidad de fomento, is Chile's inflation-indexed unit and was worth 26,965.72 Chilean pesos as of March 15.

As of March 15, US$1 was equivalent to 605.65 Chilean pesos.