Seatrade Maritime is part of the Informa Markets Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

SAAM-TUGS (002).jpg Photo: SAAM

Chile-based SAAM places $42m in bonds to finance investment plans

The Chliean logistics, port and towage group SAAM has placed a total of UF1.2m ($42m) in bonds with a listing on the Santiago Stock Exchange.

The funds will be used primarily to finance the company’s investment plan.

“The placement drew strong demand from local capital market investors. This issuance reinforces the market’s confidence in SAAM even in these times of crisis. The funds will be used primarily to finance our growth plan and consolidate our position in the twelve countries where we operate,” commented Macario Valdes, ceo of SAAM.

SAAM is preparing to close the purchase of 70% of Intertug, a towage services company that operates in Colombia, Mexico and Central America.

The deal will consolidate SAAM's leadership in the towage industry in the Americas. A total of UF1.2m in E series, 10-year bonds were placed with a rate of 1.25% and a spread of 143 points over the benchmark rate. Banchile Citi Global Markets and Link Capital Partners advised on the transaction, which included a virtual roadshow for more than 50 investors.


Hide comments


  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.