Great interest generated in the market the first bond placement made by the company, generating a total demand for UF5,6 million, equivalent to nearly double the offer of the company.
Sigdo Koppers S.A. today successfully finalized its first bond placement in the local market for UF3,0 million. The company offer generated great interest in the market, reaching a total demand for UF5,6 million, equivalent to almost twice the available offer.
The 10-yearSeries B bonds, for UF1.000.0000, were placed at a rate of 4.97% with a spread of 258 basis points. The total demand for these bonds was UF2,2 million, which represented more than double the offer of the company. Meanwhile, the 21-year Series C bonds, for UF2.000.000, were placed at a rate of 5.48% with a spread of 248 basis points. The total demand for these bonds was UF3,4 million.
The bonds were placed on the Santiago Stock Exchange by BBVA and Banchile Corredores de Bolsa. With this placing the company seeks to align the society’s liabilities and assets as well as diversify funding sources and obtain resources for current and future investments of the company.
According to the underwriters BBVA and Banchile Corredores de Bolsa, the high demand generated by this placing was due to the high expectations generated by Sigdo Koppers S.A. in the local market, given the positive evolution of its flows and to the leadership that this conglomerate has in the markets in which it participates, as well as to the design of the issuance structure, which adjusted to the current needs of different market segments.
Sigdo Koppers is one of the leading business groups in Chile, with presence in the Services, Industrial, Commercial and Automotive sectors, through its more than 40 subsidiaries and affiliates, companies that are leaders in their respective industries.
Sigdo Koppers has assets of more than US $ 1,834 million and a net income of US $ 62 million at December 2008. The company carries out important investment projects. Among these noteworthy is the expansion of the Prillex America ammonium nitrate plant of Enaex, which represents an investment of US $ 175 million and will increase current production capacity from 450,000 to 800,000 tons annually. With this, Enaex will become one of the largest world producers of low density ammonium nitrate.
Also, in January 2009, Sigdo Koppers associated with the Peruvian Brescia group, one of the largest conglomerates ofthat country, to invest jointly in the development of the first petrochemical project of ammonia and ammonium nitrate in Peru that will be supplied with natural gas.
Sigdo Koppers is controlled by Ramon Aboitiz Musatadi (CEO), Juan Eduardo Errázuriz Ossa, Naoshi Matsumoto Takahashi, Mario Santander García, Norman Hansen Rosés and Horacio Pavez García.