Banco Bice Issues UF1m in Bonds

Chile’s Banco Bice has issued UF1m ($43m) in local bonds via a Dutch auction in a single tranche. The 25-year notes priced at 102.73 with a coupon of 3.75% to yield 3.60%, a 43bp spread over the BTU-20 benchmark, says a banker on the deal. The duration of the notes is 15.41 years, while that of the benchmark is 14.66. Total demand surpassed UF4m, the banker says. Bice’s brokerage unit managed the sale.