Chile Vapores Seeks Nod For $1.2B CapHike

Compania Sud Americana de Vaporesis seeking approval for a $1.2 billion capital increase, The Wall Street Journalreports. The Chilean shipper had already raised $500 million via capital increase in early 2011.

Vapores seeks to invest $1 billion through 2012 to increase the number of ships it owns and thereby trim its leasing fees, addsFox Business. In addition, the company has requested a credit line worth $350 million from its controllers.

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