Chilean glass-making, wine and media conglomerate Cristalerias de Chile will issue some USD 50 million (EUR 41 million) in bonds on the local market, in order to pay down and prepay short-term and lon…
Chilean glass-making, wine and media conglomerate Cristalerias de Chile will issue some USD 50 million (EUR 41 million) in bonds on the local market, in order to pay down and prepay short-term and long-term debts, the company said on 1 June 2005. The company also plans to use the sum to finance investments in the business. The maturity date of the bonds is 21 years hence. Cristalerias posted a profit of CLP 24.86 billion (USD 42 million/EUR 35 million) at the end of 2004, up 277% year-on-year. The company“s consolidated sales increased 5.4% year-on-year to CLP 183.6 billion (USD 312 million/EUR 255 million). Cristalerias de Chile posted consolidated sales of USD 61.9 million (EUR 50.7 million) for the 1Q of 2005, up 5.6% year-on-year. Cristalerias de Chile is the country“s leading glass container manufacturer. The company“s customers include laboratories, wine, beer, non-alcoholic beverage and liquor makers, as well as pharmaceutical and food product manufacturers.