In order to raise money for new investments and refinance some debt, the Chilean wine maker Vina Concha Y Toro has placed US$59.42m in local, peso-denominated and inflation-indexed bonds.

The winemaker said in a statement that it had placed the 21-year bonds at 3.9%. The issue was three times oversubscribed.
Concha Y Toro expects to use the money primarily for new investments although around 35% will be used to refinance short-term debt.

This year, investments will include money spent on agricultural fields, enology, and technology, as well as in Argentina.