Chilean Lender Places Securitization

Chile’s Caja de Compensacion Los Heroes has sold CLP53bn ($95m) in domestic bonds backed by consumer loans. The 2019 bonds with a 3.5-year duration priced at 98.75 with a 7.50% coupon to yield 7.75%. Proceeds will support lending capabilities at the Caja, which is a type of non-profit social lending institution in Chile. It is the third such securitization from Los Heroes. Banchile managed the deal, rated AA on a national scale.