Banco de Chile Talks Price

Banco de Chile is looking to pay TIIE+50bp on an up to MXP1.5bn ($111m) 3-year bond, marking a debut for the issuer in the Mexican domestic market. Banco de Chile will be the third Chilean issuer to raise money there following similar moves by Banco de Credito e Inversiones (BCI) and miner Molymet. In July, BCI priced a MXP2bn 5-year floater at TIIE + 40bp, while Molymet in April issued MXP1.5bn 1.5-year bonds at TIIE+55bp. Pricing is scheduled for December 6. Banamex and JPMorgan are leading the transaction, rated AAA on a local sale.