Banco de Chile Issues Local Bond

Banco de Chile issued UF4m ($184m) in 5-year bonds in the local market on Friday, receiving over 2x demand, according to a banker on the deal. The notes priced at 94.77 with a 2.20% coupon to yield 3.38%, or 75bp over the BCU-5 benchmark. Institutional investors were the main buyers. The proceeds from the bond issuance will be used for the bank’s funding purposes. Banco de Chile managed the sale, rated AAA on a national scale.