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BancoEstado Sells $118m Bond
Chilean state-owned bank BancoEstado has priced $118.9m equivalent in 2018 bonds denominated in the UF inflation-indexed currency unit at 94.63 with a 3.5% coupon to yield 4.18%. The UF3m sale drew UF8.1m in demand, the bank says. Proceeds from the transaction rated AAA on a national scale will be used to finance the bank’s growth plans. BancoEstado managed the sale.