BICE Issues in Local Market

Chile’s Banco BICE has issued UF1.4m ($64m) in subordinated bullet bonds in the local market. The 2034 note priced at 100.10 with a 4.00% coupon to yield 4.03%, or 136bp wide of the government benchmark. The bank plans to use proceeds for funding purposes. BICE self-managed the sale, rated A+/AA minus on a national scale.