Santander Chile sells Formosa bond

Santander Chile sells Formosa bond

Chile Asia Bonds

Santander Chile has become the first Chilean issuer to tap Taiwan’s Formosa bond market, diversifying its funding sources with a $185m 2021 bond sale. The joint bookrunners Cathay United Bank, Crédit Agricole and Standard Chartered priced the five-year floating rate notes at par and a spread of 120bp over three-month Libor, according to one debt capital markets source. The Bank of Taiwan and Sinopac Securities joined the -/A+/A rated trade as co-managers.Aa3/A+/A rated Santander Chile met i

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