Bice Plans Local Dollar Bond

Chile’s Banco BICE is preparing to raise $120m in the domestic market through what will be the bank’s first-ever dollar-denominated bond. The 2016s will carry a 3.50% coupon, and are rated AA on a national scale. The borrower would like to issue as soon as possible, but timing remains uncertain given the volatility in the broader market, a banker on the self-led deal says. This comes after several issuers have postponed transactions in the local market. Market appetite will be put to the test on Thursday when electricity holdco Saesa as well as fuel and forestry conglomerate Copec are expected to tap. Saesa delayed its UF2m ($94m) sale earlier this month, while Copec is looking to sell up to UF1.5m in 2021s.