Banco Estado Shelves Syndicated Loan

Banco Estado Shelves Syndicated Loan

Chile

Chile's Banco Estado, which several weeks ago put out an RFP for a 5-year loan of up to $350m, has postponed launch until early next year due to turbulent market conditions, according to a banker close to the process. The state-owned bank, which is understood to have already tapped an institution to lead the syndication, was apparently greeted with some resistance from prospective lenders who found Estado's desired pricing of Libor plus 20bp-25bp somewhat tight given current market conditions. S

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