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Chile's SAAM completes new bond issue for $50.6mChile's SAAM completes new bond issue for $50.6m

Chile-based SAAM, the largest operator of port, towage and logistics services in the Americas, has placed a total of $50.6m in bonds on the local market at the Santiago Stock Exchange.

Michele Labrut, Americas Correspondent

August 17, 2020

1 Min Read
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The funds will be used to finance investments and for other corporate uses.

“Once again, the market is giving us a sign of confidence, demonstrating significant interest in our company’s debt issuances despite high volatility in the market. This crisis has dealt a blow to economies around the world, but our outlook is long term and we continue to move forward to reinforce our growth plan and consolidate our position in the twelve countries where we operate,” commented SAAM's ceo Macario Valdés.

A total of Unidad de Fomento (UF) 1.4 million in H series 10-year bonds was placed with a coupon rate of 1.25%. The company has a solid risk rating of AA-. This issuance comes on the back of another UF 1.2 million placed in June, totaling UF 2.6 million in the market this year.

The placement was advised by Banchile Citi Global Markets and Link Capital Partners.

About the Author

Michele Labrut

Americas Correspondent

Michèle Labrut is a long-time Panama resident, a journalist and correspondent, and has continuously covered the maritime sector of Central & Latin America.

Michèle first came to Panama as a press attaché to the French Embassy and then returned to the isthmus as a foreign correspondent in the 1980s.

Author of Seatrade Maritime's annual Panama Maritime Review magazine and of several books, Michèle also wrote for Time magazine, The Miami Herald, NBC News and the Economist Intelligence Unit. She has also collaborated in making several documentaries for the BBC and European and U.S. television networks.

Michèle's profession necessitates a profound knowledge of the country, but her acumen is not from necessity alone, but a genuine passion for Panama.

In 2012 she was awarded the Order of Merit (Knight grade) by the French Government for her services to international journalism and in 2021 the upgrade to Chevalier grade.

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