Santander Chile Jumps on Low Spreads

Santander Chile Jumps on Low Spreads

Bonds

Santander Chile has opted to snag low-cost funds from the DCM before year end, reopening its 2012 for $300m. The bank paid a yield of 2.657%, or UST plus 138bp, joining fellow high-quality issuer Brazil in retapping a benchmark this week. The Aa3/A+ rated 2.875% bond reopened at 100.601 to price in line with 140bp area whispers. Proceeds from the issue are earmarked for general corporate purposes. Deutsche Bank and Santander managed the sale. Santander announced at $250m Thursday morning, but up

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