Boston Securitizadora Places $29.5 Million Auto Securitization

Boston Securitizadora, the Chilean securitization unit of Bank of America, placed $29.5 million worth of securitized bonds in the local market Tuesday. The bonds carry maturity of 3 years and nine months and were sold with an annual nominal rate of 6.08%. The duration of the paper is 1.38 years. The bonds are backed by a pool of car loans originated by Forum, the country’s leading car finance company, which is controlled by BBVA. BancoEstado arranged the issue. The bonds are rated AA/C by Fitch Ratings.