SANTIAGO, Chile--(BUSINESS WIRE)--Parque Arauco S.A. (SSE: PARAUCO) (Bloomberg: PARAUCO:CI) has successfully issued a bond for UF 2 million (approximately US$ 67 million).
Today the Company issued and placed a 5-year bullet bond, corresponding to the X Series, for UF 2 million at a 2.2% yield. This is the first public issuance of a Chilean Corporate in the local and international markets since the outbreak of Covid-19 was declared a global pandemic. The bookrunners were Banchile Corredores de Bolsa and Santander Corredores de Bolsa.
This bond issuance strengthens the financial position of Parque Arauco, increasing its cash levels and allowing the Company to focus on using liquidity for operational costs and expenses.
Currently, Parque Arauco has 1,075,500 m2 of total GLA in Chile, Peru, and Colombia. The company inaugurated its first shopping center in Chile in 1982, entered Peru in 2006 and Colombia in 2008. The company’s assets include 8 regional shopping centers, 1 neighborhood center, 4 premium outlet malls and 17 strip centers in Chile; 6 regional shopping centers, 9 neighborhood centers, 2 premium outlet malls and 3 strip centers in Peru; 3 regional shopping centers and 1 premium outlet mall in Colombia, as well as a land bank to contribute to the company’s future growth plans. For more details, visit the company’s website: www.parauco.com.