BCI Considers Joining Japan Parade

Chilean lender BCI is studying the possibility of selling bonds to Japanese investors, its head of international financial institutions says. Banco de Chile and Banco Estado de Chile have already issued in Japan this year. “We want to be a frequent international issuer, and we want to build our base of international investors. We are always looking for opportunities in the US, Switzerland and Asia,” Mario Sarrat tells LatinFinance. The bank is planning a roadshow in Japan in 2014. The Hong Kong and Australian markets are also options. BCI sold its first Swiss franc bond in August this year, raising $215m-equivalent. This followed its first placements in Mexico and the USD markets. The USD, CHF or JPY markets are more attractive than non-Chilean Latin American markets, Serrat says, adding that the domestic market is deep enough to meet many of BCI’s needs. Banco de Chile privately placed $112m-equivalent in Japan last week, paying a 0.74% yield for a 2016 bond.