BancoEstado Sells $316m Bonds

Chile’s state-owned BancoEstado has placed $316m in inflation-linked bonds on the local market. A $157.8m five-year tranche priced at par to yield 3.40% and a $157.8m 10-year tranche at 101.52 to yield 3.48%, says the issuer. The notes have a AAA local rating from Fitch and proceeds will go towards the expansion of its businesses lines.