Cristalerias de Chile, Chile“s largest producer of glass bottles, said it signed a US$ 100 million loan to finance part of its purchase of cable TV operator Metropolis-Intercom.
The loan is subject …
Cristalerias de Chile, Chile“s largest producer of glass bottles, said it signed a US$ 100 million loan to finance part of its purchase of cable TV operator Metropolis-Intercom. The loan is subject to authorization from the central bank, it said in a statement. It added that it has contracted The Chase Manhattan Bank to help it structure a different five-year loan that would refinance the above mentioned debt. Earlier this month, Cristalerias said it formally signed a US$ 270 million deal that includes the purchase of a stake in Metropolis-Intercom. Under the deal, which was announced in May, Liberty Media Corp. and a unit of Cristalerias agreed to buy 40 percent of the cable TV company from Telefonica CTC Chile. Of the $270 million, $250 million will be paid within 90 days of signing the contract and $20 million will be paid within five years.