Chilean Lender Looks at Domestic Market

Chilean financial institution Caja de Compensacion La Araucana is in the process of preparing a domestic bond sale, under a CLP50bn ($99.5m) shelf for issuance of up to 10 years, according to people following the process. BCI will lead the transaction, which could take place as soon as November. The program is rated A/A on a national scale. Proceeds could be used to finance lending and refinance debt. La Araucana last sold CLP25bn in bonds in the local market in January and February.