Chilean copper miner Codelco preparing local bond issue – agency

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'.