Chile's CMPC launches $500 million offering of 10-year senior notes at Treasuries plus 275 bps

By Paul A. Harris

St. Louis, Oct. 29 - Chilean pulp and paper manufacturer Empresas CMPC SA launched a $500 million maximum offering of 10-year senior unsecured notes (Baa2/BBB+/BBB+) at a 275 basis point spread to Treasuries on Thursday, according to a market source.

JPMorgan, Banco Santander and BNP Paribas are the underwriters.

Proceeds will be used to partially fund the acquisition of Aracruz Celulose SA's Guaiba unit for $1.43 billion.

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