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News 2020

BancoEstado inaugurates 2020 by underwriting US$750 million in the international bonds market

, Jan 10, 2020. 19:15

The geographical distribution of these investors was 68% USA, 18% Europe, 13% Asia and 1% other countries.

Santiago, January 10, 2020.- BancoEstado placed a bond benchmark in USD worth US$750 million and five (5) years term with a 2.704% annual rate, equivalent to a spread of 110 basis points over the US Treasury.  

This operation had a strong demand from international investors, totaling 2.9 times the issued amount.  On this point, the Chief Financial Officer, Mr. Julio Guzman, said “the book had over 150 investors confirming BancoEstado has successfully diversified its investors and funding sources” and added, “this placement shows the confidence of foreign investors in BancoEstado”. The geographical distribution of these investors was 68% USA, 18% Europe, 13% Asia and 1% other countries. 

Finally, the executive underlined “this is the first transaction of a Chilean entity in international markets in 2020”. On this operation, BancoEstado was supported by Bank of America, Credit Agricole, Goldman Sachs and JP Morgan, achieving very favorable terms and conditions.