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BancoEstado Issues Local Notes
Chile’s BancoEstado has issued UF3m ($116m) in local bonds. The 28-year AA+/AA rated notes have a coupon of 4.50% yielding 3.74% and priced at 112.38. They have a spread of 32bp over the local central bank notes. Proceeds will be used to finance the bank’s expansion plans. The bank itself led the sale.