Just days after selling its first sustainability-linked bond tied to inflation in the international market, Chile is discussing pricing on a new, peso-denominated issue, according to a source familiar with the deal.

The South American nation has set initial price talk around 7.25% on the 11-year SLBs, the source said.

The sovereign expects to price the new 5.8% 2034 bonds as early as Wednesday, the source said, adding that it has retained Bank of America, Citi, Itaú BBA and JPMorgan as joint bookrunners on the Rule 144A/ Reg S bond sale.

The Chilean government did not specify the step-up rate it would pay if it fails to meet targets for the new SLBs but has tied the notes to reductions in greenhouse gas emissions by the public sector and increasing the presence of women on the boards of state companies, according to the source.

Chile sold CLP1.75 billion ($1.9 billion) worth of 14-year notes in its first sale of global SLBs in pesos in July. It went on to raise UF24 million ($927 million) in its first international sale of SLBs tied to inflation last week.

Bank of America, Citi, Itaú BBA and JPMorgan were also bookrunners on those deals.

The sovereign, which last year became the first country in Latin America to sell SLBs, has also issued SLBs in US dollars and euros this year.