Jun 08, 2007. /Lesprom Network/. Masisa, the leading furniture and interior architecture board production and marketing company in Latin America, secured its medium- and long-term financing by issuing bonds amounting to $88 million. The transaction was arranged by IM Trust, a local investment bank. The F and G series bonds for $17.6 million each have a 5-year term, and the H series bonds for $52.8 million have a 21-year term, and were sold on the Santiago Stock Exchange at annual rates of 3.73%, 3.72% and 4.64% for the F, G and H series, respectively. The spreads over the bonds of the Chilean Central Bank were 80bps for the F and G series and 114bps for the H Series The total demand exceeded $209.4 million, i.e., 2.38 times the offering. It should be noted that this issue is the first corporate bond issue made after the announcement of the extension of the foreign investment limits applicable to the Chilean pension fund companies (AFPs). This transaction is part of the company's plan to refinance its A series bonds placed in 2003. The placement conditions obtained by Masisa largely reflect the market's good perception of the company, its industry and its sound financial condition. Enrique Cibie, Masisa's CEO, expressed his satisfaction regarding the excellent conditions the company obtained in the placement, which to a large extent reflect the favorable market perception of the company's outlook. The issue was mainly purchased by institutional investors, including pension funds, insurance companies, mutual funds, banks, stockbrokers and asset managers. Masisa is the leading company in the production and trade of wood boards for furniture and interior architecture in Latin America. It counts on its major forestry assets which grant it the raw material needed.