Santander Chile Issues $270 Million Inflation-linked Bonds

Chile’s largest financial institution, Banco Santander Chile, has issued $270 million-worth of five-year ‘readjustable’ or inflation-linked bonds in the local market. The money raised will be used to grow the bank’s mortgage-lending business. Santander Chile current has 24.7% of the house financing market in the country. The issue is one of the largest in the Chilean market so far this year. The bonds have been rated AA+ by Fitch Ratings. Santander Investment arranged the issue.