Bladex Still Plans Chile Bond

Panama-based multilateral bank Bladex is still expected to issue its long awaited UF-denominated bond in Chile, even though it has also closed on a $130m 3-year syndicated loan with commitments from 10 banks. A Bladex spokeswoman confirms that the $130m syndicated loan does not replace the UF deal in Chile. The UF bond, set to be the first huaso bond of the year, is expected to issue next week, according to a banker on the deal. A banker off the deal says the issue, for up to UF2.5m ($110m) will have 2 tranches, one for 3 years and another for 5 years. Proceeds will go to finance lending operations. BBVA is heard leading the A+/AA minus issue. Bladex had been expected to launch a huaso bond for about a year, the bankers say. Mexico’s America Movil did the last huaso, selling UF5m in 2035 notes last May. Banchile-Citi and Santander managed that sale, rated AA+.