Chile Arauco places $233 mln in bonds at 3.88 pct yield

SANTIAGO, April 26 Thu Apr 26, 2012 10:02am EDT

SANTIAGO, April 26 (Reuters) - Arauco, the forestry arm of Chilean industrial conglomerate Copec, on Thursday placed $233 million in 21-year, inflation-indexed peso-unit bonds at a 3.88 percent yield, a source at the local stock exchange said.

Arauco, which is one of the world's top wood pulp exporters, had said around 70 percent of proceeds from the bond issue would be used to pay for investments and the remainder to prepay debt.

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