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Itau Chile Raises Local Bond 0

Mar 15, 2012

Itau Chile has issued UF2m ($93m) in the domestic bond market. The unit of the Brazilian bank priced a UF1m 7-year tranche with a 3.50% coupon at a discount to yield 3.69%, or the BCU7 government bond plus 114bp. A UF1m 11-year tranche with a 3.50% coupon priced at a discount to yield 3.87%, or the BCU10 plus 119bp.  The issue saw 3.33x demand, according to a person familiar with the deal. Itau’s own brokerage arm managed the sale, rated AA/AA minus on a national scale. In October, Itau Chile issued UF1m in 10-year bonds with a yield of 3.72% and paying BCU10 plus 125bp.


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