The operation reached a total of 2.8 million UF (US$111millions).
Santiago, January 17, 2017. SM SAAM, multinational company that provides services through its three business divisions: port services, Towage and Logistics in the Americas, successfully completed its first placement of bonds in the local market for a total of 2.8 million UFs (US$111 millions), with the purpose of refinancing short- and long-term liabilities of the Company.
Series B was placed for a total of 1,400,000 Unidades de Fomento (UF – index-linked units), at a placement rate of 1.88% anually, maturing on December 15, 2021, and a spread of 92 points over the reference rate. Series C was placed for a total amount of 1,400,000 UF, at a placement rate of 2.3% per year, maturing on December 15, 2026 and a spread of 101 points over the reference rate.
Total placement had a demand of 2.3 times above the offer and was led by Santander Corredores de Bolsa and Credicorp Capital Corredores de Bolsa.
“The high demand for our bonds shows the confidence that the capital market has in our Company. Our first placement of bonds in the history of the Company is yet anothet step in SM SAAM’s consolidation, which allows us to optimize our capital structure and project future Company plans. The favorable conditions obtained in this placement are a reaction to the responsible financial policy of our Company and the attractive diversification of our businesses,” said SM SAAM’s CEO Macario Valdés.
SM SAAM has an AA- rating, with stable perspectives, from risk rating companies Feller Rate and Humphreys.
About the company
SM SAAM has SAAM as its main asset, a Chilean multinational company that provides services to international trade through its three business divisions: port terminals, towage and logistics. With 55 years of experience, it is present in 15 countries of North, Central and South America, generating employment for more than 10 thousand workers.
