Empresas Hites SA (HITES), a Santiago-based department-store operator, agreed April 27 to borrow $130 million from a syndicate of banks led by Itau Unibanco Holding SA’s units in Chile and New York, it said in a statement to the Chilean securities regulator.

The company will use proceeds for investment and to restructure its liabilities, it said.

To contact the reporter on this story: Sebastian Boyd in Santiago at sboyd9@bloomberg.net

To contact the editor responsible for this story: David Papadopoulos at papadopoulos@bloomberg.net