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Chile's Inversiones La Construcción issues 4M UF of bonds

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Chile's Inversiones La Construcción issues 4M UF of bonds

Inversiones La Construcción SA on Sept. 5 placed two tranches of bonds for 4 million UF, the company said in a filing.

The first series, composed of social bonds, was issued for 2 million UF, with total demand reaching 2.8x the placement amount. The bonds were issued at a rate of 0.36%.

The Chile-based company also issued another bond tranche worth 2 million UF, with demand hitting 2.4x the total placement. The issuance was made at a rate of 0.33%.

Both bond tranches will mature June 15, 2027.

The unidad de fomento, or UF, is Chile's inflation-indexed unit and was worth 28,000.30 Chilean pesos as of Sept. 4.

As of Sept. 4, US$1 was equivalent to 722.61 Chilean pesos.