BCI Places $35.3 Million Securitization

Chilean BCI Securitizadora placed $35.3 million-worth of securitized notes in the local market yesterday, Wednesday. The bonds, which carry a maturity of 6.11 years, at a nominal annual rate of 6.36%, were priced at a spread of 51 basis points over seven-year central bank securities. The bonds are backed by loans originated by the Caja de Compensación La Araucana. The offering was 70% oversubscribed and was coordinated by BCI Corredor de Bolsa. The bonds have been rated AAA/C by Fitch Ratings and Feller-Rate.