Itau Issues in UF

Itau has issued UF1m ($47m) in Chile’s domestic bond market, according to a source following the transaction. The 14-year bond priced at 99.15 with a 3.75% coupon to yield 3.83%, or the BCU20 benchmark plus 120bp. It self-managed the sale, which saw demand of over 4.5x. The bonds are rated AA/AA minus on a national scale. The deal follows a UF2m sale in August, including a UF1m 2019 with a 3.5% coupon yielding 3.6%, and a UF1m 2028 with a 3.75% yielding 3.8%.