BEST SOVEREIGN ISSUER

BEST SOVEREIGN ISSUER

Chile Bonds Corporate & Sovereign Strategy

Levels achieved were lower than market participants anticipated, demonstrating the leverage the sovereign had on price, despite damage from an earthquake and external markets turmoil. While investors like the credit, the sovereign has an illiquid curve. With the cost of the earthquake as impetus, Chile came to the market as part of its fund raising – which also includes privatizations – to help cover the $8.4 billion cost of rebuilding from February’s earthquake. "With this transaction we were able to reduce the long-term rate and the cost of borrowing for the state, which will also benefit Chilean companies so that they can issue in pesos," finance minister Felipe Larra

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