Corpbanca Prices Subordinated Bonds

Chile’s Corpbanca has issued $125m-equivalent in subordinated bonds denominated in the UF inflation-linked unit. It priced UF3m (CLP61.53bn) in 2033 notes with a 4.60% coupon at 98.37 to yield 4.76%. Proceeds from the A+ rated issue will be used to restructure assets and debt and to finance the company’s loan growth plans. Corpbanca’s capital markets unit managed the sale.