SANTIAGO May 25 Chile's state-run Codelco, one
of the world's biggest copper producers, is readying a domestic
bond issue that will allow it to refinance its debt and fund
investments, a local ratings agency said on Thursday.
Codelco was in the process of registering a new debt issue
worth some $1.6 billion, denominated in Chilean
inflation-adjusted currency unit UF, said Feller Rate in a
statement, adding that it was rating the bonds 'AAA'.
The company, which returns its profits to the state and is
funded by a mix of government refinancing and debt, needs to
invest billions of dollars in an ambitious program to expand its
Codelco confirmed that it was registering the new bonds, but
added that an issue was not necessarily imminent.
(Reporting by Fabian Cambero, Writing by Rosalba O'Brien;
Editing by David Gregorio)