Santander Santiago Prepares New Debt Offerings

Santander Santiago, Chile’s largest private bank, is to offer several new debt issuances for a total of up to $437 million. The bank will offer local inflation-linked bonds worth $269 million, issued in two series: one with a 12-year maturity and an annual interest rate of 3% and one with a 22-year maturity and an annual interest rate of 4%. It will also launch subordinated bonds worth $168 million, which will carry an annual interest rate of 4.8% and mature in 25.5 years. Santander Santiago is a subsidiary of Spain’s Grupo Santander.