By  on February 18, 2019

Cencosud Shopping Centers, the mall division of South American retail group Cencosud, and rival Vivo are eyeing initial public offerings in coming months to profit from a growing retail market, according to market sources.

“They [Cencosud Shopping Centers] are looking to do a bond issue and then a stock listing,” said a ratings analyst in Chile’s capital of Santiago, adding that the firm could issue more than $1 billion in notes to pay $1.4 billion in liabilities to parent company Cencosud. Cencosud operates multibrand supermarkets, department stores and home improvement centers in five South American countries.

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