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BancoEstado Issues $85 Million Bonds
Chile’s BancoEstado has also issued local inflation-linked bonds worth $85 million (UF2.5 million). The bonds carry a maturity of 25 years and an annual interest rate of 4.2%. Fitch Ratings awarded the bonds an AA+ rating. BancoEstado Corredores de Bolsa managed the issue, money from which will be used to fund the bank’s expansion plans.