BancoEstado Sells $216m Equivalent Inflation-adjusted Bonds

Chilean state-owned BancoEstado, the country’s third-largest bank, sold just over $216m worth (UF6m) of inflation-adjusted local bonds on Wednesday. The 10-year bonds were sold at a yield of 3.85%, equivalent to a spread of 70bp over 10-year treasuries, higher than the 60bp spread initially anticipated for the AAA issuer, said analysts.