CorpGroup Vida Places Local Notes

Chile’s CorpGroup Vida has sold UF5.7m ($225m) in inflation-linked domestic bonds on the domestic market. The insurer, under the same parent as CorpBanca, sold UF2.5m in 7-year bonds at 97.87 with a 3.20% coupon to yield 3.75%, and UF3.2m in 21-year bonds at 98.44 with a 4.50% coupon to yield 4.64%. The 7-year bond features a 2-year grace period and the 21-year a 10-year grace period. Celfin managed the sale, rated A/A+ on a national scale. The insurer owned by conglomerate Grupo Saieh has not yet indicated the transaction date. Proceeds are marked to fund the purchase of ING’s Chilean life insurance business, closed in September for an undisclosed amount.