By Rebecca Melvin
New York, Jan. 3 – Banco del Estado de Chile priced $500 million of three-year senior notes (A3/A+/A) on Wednesday at par with a coupon of 2.668% and a spread of 65 basis points over Treasuries, according to a market source.
The Rule 144A and Regulation S notes priced tight compared to initial talk for a yield over Treasuries in the 80 bps area.
HSBC, Citigroup, BofA Merrill Lynch and J.P. Morgan were joint bookrunners for the notes, which are being issued under the bank’s $3.5 billion medium-term note program.
The financial services company is based in Santiago, Chile.
| Issuer: | Banco del Estado de Chile
|
| Issue: | Notes
|
| Amount: | $500 million
|
| Maturity: | Jan. 8, 2021
|
| Bookrunners: | HSBC, Citigroup, BofA Merrill Lynch and J.P. Morgan
|
| Coupon: | 2.668%
|
| Price: | Par
|
| Yield: | 2.668%
|
| Spread: | Treasuries plus 65 bps
|
| Initial price talk: | Treasuries plus 80 bps area
|
| Distribution: | Rule 144A/Regulation S
|
| Pricing date: | Jan. 3
|
| Settlement date: | Jan. 8
|
| Ratings: | Moody’s: Aa3
|
| Standard & Poor’s: A+
|
| Fitch: A
|
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