By Rebecca Melvin
New York, Jan. 29 – The Republic of Chile priced $1.02 billion of 3.24% 10-year notes on Monday at 99.941 to yield 3.247%, or Treasuries plus 55 basis points, according to a market source.
Pricing was set below initial price talk for a yield of Treasuries plus 75 bps area.
The Securities and Exchange Commission-registered notes were sold via Citigroup, Goldman Sachs & Co., J.P. Morgan Securities and BofA Merrill Lynch as joint lead managers and bookrunners.
Proceeds are expected to be used for general budgetary purposes and to pay partially the purchase price for certain outstanding debt securities that are being tendered concurrently with the offering of new bonds. Any remaining proceeds are earmarked for general corporate purposes.
A listing application is being made with the Luxembourg Stock Exchange to trade the bonds on the Euro MTF Market.
| Issuer: | Republic of Chile
|
| Amount: | $1,015,000,000
|
| Description: | Notes
|
| Maturity: | 2028
|
| Bookrunners: | Citigroup, Goldman Sachs & Co., J.P. Morgan Securities and BofA Merrill Lynch
|
| Coupon: | 3.24%
|
| Price: | 99.941
|
| Yield: | 3.247%
|
| Spread: | Treasuries plus 55 bps
|
| Trade date: | Jan. 29
|
| Distribution: | SEC registered
|
| Price guidance: | Initial price talk of Treasuries plus 75 bps
|
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