Goldman Looks to Huaso Market

Goldman Sachs is planning a bond sale in Chile’s domestic market, according to regulatory documents, filing for a program to issue up to UF20m ($964m) at maturities of up to 50 years. Though the program is large, individual Chilean domestic deals tend to be under UF5m at 21 years or less. The bank sees a so-called Huaso bond as a way to expand its business in the country, a bank spokesman says. Santander Chile is managing the deal. Goldman is also in the process opening an office in Santiago and has sold some $300m in Chilean peso-denominated international debt since 2006, the spokesman adds. A sale would make it the first US-based Huaso issuer. The most recent foreign bank to issue in the Huaso market was Brazil’s Banco Pine, raising UF1.5m in December.