Santander Chile sets LatAm foothold in pro-bond market

Santander Chile sets LatAm foothold in pro-bond market

Bonds

Santander Chile sold a JPY27.3bn ($268m) bond on Wednesday, becoming the first Latin American borrower to pursue the Tokyo pro-bond format. The bank sold the paper in three tranches, a JPY6.6bn 2017 floating rate at 3-month yen Libor plus 55bp, a JPY2bn 2017 fixed rate at 0.72%, which is equivalent to yen swaps plus 45bp, and a JPY18.7bn 2019 fixed rate at a coupon 0.7%, equivalent to yen swaps plus 60bp. All the investors were based in Japan and they included local banks, Shinkin banks and insu

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