Chile’s Empresas CMPC Gains on Report of $600 Million Financing

Empresas CMPC SA (CMPC) rose for a second day after a newspaper report said Chile’s second-largest pulp exporter secured $600 million in financing through a syndicated loan and credit line.

CMPC advanced 1.5 percent to 1,698 pesos at 12:07 p.m. New York time, after earlier surging as much as 3.4 percent. The company is headed to its biggest gain in more than two weeks.

CMPC secured a $400 million five-year syndicated loan and a $200 million three-year line of credit from Bank of America Corp., Bank of Tokyo-Mitsubishi UFJ Ltd., Export Development Canada, JPMorgan Chase & Co. and Bank of Nova Scotia, Diario Financiero wrote.

It will pay London interbank offered rate plus 65 basis points on the syndicated loan, and Libor plus 70 basis points on the credit line, the Santiago-based newspaper reported, without saying where it obtained the information.

CMPC spokesman Gonzalo Garcia did not respond a phone call and e-mail asking for comment.

To contact the reporter on this story: Eduardo Thomson in Santiago at ethomson1@bloomberg.net

To contact the editor responsible for this story: David Papadopoulos at papadopoulos@bloomberg.net

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