BancoEstado Taps Chile Bond Market

BancoEstado, the Chilean state-owned bank, has issued $230m equivalent in 5 and 20-year bonds on the local market. The bonds, denominated in UF, pay 3.38% on the short end and 3.85% on the long end. Demand was three times supply and institutional investors were significant buyers, said the borrower. BancoEstado self-led the deal.