Chilean Lender Set for Bond

Tanner Servicios Financieros will look to issue up to UF1.5m ($72m) in the Chilean local markets today, say people familiar with the transaction. The financial services company can choose between a 5-year, UF1.5m series with a coupon of 4.7% and a 5-year CLP33.8bn series with a coupon of 7.7%. Tanner is expected to issue in UF, with proceeds earmarked for debt refinancing and its leasing operations. BBVA leads the transaction, rated A on a national scale. Tanner had been heard looking to issue up to CLP70bn at the end of March via Scotia, but decided to hold off for a more attractive spread.