SOVEREIGN BOND: Republic of Chile $1.5 bn 2022/2042

Jan 17, 2014

Chile impressed with the lowest coupon and yield ever achieved by a Latin American issuer for the 10 and 30-year tranches

On the shortlist of candidates for Sovereign Bond of the Year, there were deals with impressive structures, sizes and execution, and which met a strong welcome from investors and peers. But the Republic of Chile’s dual-tranche issue stood out in particular for landing the lowest-ever coupon and yield for an emerging market bond.

The sovereign sold the $1.5 billion bond in October 2012, coming to market with a 10-year note and its first 30-year international benchmark.

The republic wanted...

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