Chilean Sees Potential Return to Japan: CFO

After a successful JPY24bn ($253m) bond sale in which Banco de Estado de Chile was able to print inside its USD curve and upsize from a targeted JPY20bn size, the bank hopes for another Euroyen deal next year, CFO Carlos Martabit tells LatinFinance. “We are very pleased to be the first [Chilean] to issue in the Japanese market. We could issue next year if good conditions exist,†he says, noting the government-owned bank hopes the deal opens the gates for other Chileans to issue in Japan. Martabit says Banco Estado was very fortunate to fund itself some 30bp cheaper than what it could attain in dollars. The 2018 Euroyen priced at par with a 0.837% coupon, to yield mid-swaps plus 35bp, in line with 30bp-40bp guidance. Citi and Daiwa managed the sale, rated Aa3/AA minus/A+.