SAAM Terminals clamps down on emissions
NewsThe company’s port terminals and logistics center received I-REC certificates verifying use of renewable energy for 100% of their electricity consumption.
SAAM raises US$111M in new bonds
SM SAAM has successfully completed its first placement of bonds in the local Chilean market for a total of 2.8M UFs (US$111M)
The purpose of the bonds is to refinancie short- and long-term liabilities of SAAM Group (SM SAAM), the Chile-based multinational with three business divisions – port services, towage and logistics in the Americas.
Series B was placed for a total of 1.4M Unidades de Fomento (UF – index-linked units), at a placement rate of 1.88% anually, maturing on 15th December 2021, and a spread of 92 points over the reference rate. Series C was placed for a total amount of 1.4M UF, at a placement rate of 2.3% per year, maturing on 15th December 2026, and a spread of 101 points over the reference rate. Total placement had a demand of 2.3% times above the offer and was led by Santander Corredores de Bolsa and Credicorp Capital Corredores de Bolsa.
“The high demand for our bonds shows the confidence that the capital market has in our company," said SM SAAM’s CEO Macario Valdés."Our first placement of bonds in the history of the company is yet another step in SM SAAM’s consolidation, which allows us to optimise our capital structure and project future company plans.
"The favorable conditions obtained in this placement are a reaction to the responsible financial policy of our company and the attractive diversification of our businesses.”
SM SAAM has an AA- rating, with stable perspectives, from risk rating companies Feller Rate and Humphreys.
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