Banco del Estado Sells UF5m

Banco del Estado has issued UF5m ($225m) in Chile’s local market, say people familiar with the sale. The 2017 bonds were sold at 100.82, with a 3.50% coupon to yield 3.24%, or government bonds plus 95bp. The transaction, rated AAA on a local scale, follows a $200m retap of its 2017 dollar bonds in May and a debut Euroyen deal earlier this month. Investors placed UF16.8m of orders for Tuesday’s deal. Proceeds from the bond sale are for the bank’s growth and development, it says.