Santander Chile Sells $182m Inflation-adjusted Bonds

Santander Chile, the country’s largest financial institution, has placed $182m worth of bonds to fund expansion plans, the bank announced. The inflation-adjusted, four-year bullet bonds were sold at a spread of 63bp over five-year local central bank bonds. Last week, Banco Santander Chile’s main rival, Banco de Chile, announced the merger of its banking operations with the local affiliate of Citi.