Telefonica Chile Raises Debut Bond

Telefonica Chile Raises Debut Bond

Chile Bonds

Telefonica Chile has priced a $500m 10-year bond, with investors flocking to the BBB/BBB+ rated telecom for a total of $6bn in demand. Starting at UST+275bp initial price talk, the issuer was able to squeeze by 50bp. It priced the 2022 at 99.901 with a 3.875% coupon to yield 3.887%, or UST+225bp, in line with 225bp-area guidance revised from 250bp-area. The bond was up 0.50-1.00 point in the grey, according to traders. “The deal was priced too tight, but there is not enough Chilean paper out the

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