Chile's Carey has acted as deal counsel for a US$40 million bond issuance by Chilean factoring company Incofin.

The underwriter was Banco Santander. The offering closed on 28 March.

Of the funds raised, 80% will be allocated to refinance short and long-term liabilities of the issuer and its subsidiary, Incofin Leasing. The remainder will fund Incofin's business growth programme.

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