- The shopping center company with a presence in Chile, Colombia and Peru issued two series under the Dutch auction model, maturing in 5 and 25 years, respectively.
Santiago, 18 August 2022.- Mallplaza successfully placed bonds for a total of 4 million Unidades de Fomento. The issue consists of two series and was carried out under the Dutch auction model.
The first was a 5-year bullet bond for UF 1 million at a rate of UF+3.14%, with a spread of 89 basis points above the benchmark (bps). Meanwhile, the second was for UF 3 million maturing in 25 years and at a rate of UF+3.39%, with a spread of 104 bps, the best corporate bond market spreads since October 2019.
“The market has endorsed Mallplaza’s financial solidity, the adaptation of its business model to new and growing consumer needs and its high long-term projection,” explained Corporate Administration and Finance Manager Pablo Cortés.
On this matter, the executive stressed that Mallplaza has continued with its growth projects, such as construction of Mallplaza Cali in Colombia and updating the value proposition of flagship urban centers like Mallplaza Vespucio, Mallplaza Norte and Mallplaza Oeste. This last one, will soon have the largest IKEA store in Chile.
In addition, it has closed new business deals with high-value brands like H&M and Decathlon, bolstered its entertainment and recreation proposition and enhanced this with mixed use businesses such as health, education, offices and gyms, among others.
50% of the funds from this placement will go to new investments and 50% to the refinancing of liabilities.
The banks Banchile-Citi and Scotiabank advised on the transaction, in addition to the law firm Prieto Abogados as legal adviser.
