Banco de Chile Plans Follow-on Equity

Banco de Chile is scheduled to this week offer $176m equivalent in Chilean peso shares through Banchile Corredores, according to Dealogic. The last trade before the announcement was at CLP41.63. Citi recently announced it is taking a 33% stake in Banco de Chile. The Chilean deal is a lone contender for LatAm equity investors who have been inundated of late, mostly with Brazilian shares. For the first week in a while, the pipeline is devoid of Brazil names, following last week’s shakeout. Markets are up again, but issuers will probably opt to stick to the sidelines for now.