BancoEstado Issues Local Subs

BancoEstado Issues Local Subs

Chile Bonds

BancoEstado has sold UF2m ($90m) in 2041 subordinated bonds in Chile’s domestic market, according to people following the sale. The 4.00% coupon bonds priced at a premium to yield 3.50%, or 90bp wide to government bonds. The transaction drew 5x demand. BancoEstado led the sale, rated AA/AA+ on a national scale. The bank has been heard planning up to UF4m in subordinated debt sales, and is expected to follow up with another UF2m before the end of the year. It is also preparing a senior bond line

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