Chilean Bank Sells Local 10-Year

Chilean state-owned bank BancoEstado has sold $197m equivalent in inflation linked bonds on the domestic market. The UF5m ($197m) issue of 2019 bonds priced at 96.24 with a 3.50% coupon to yield 4.00%. Proceeds will be used to finance the bank’s expansion plans. BancoEstado’s own brokerage unit managed the transaction, rated AAA on a national scale.