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News 2014

BancoEstado carries out a successful placement of Subordinate Bonds

Subgerencia de Comunicaciones

, Sep 25, 2014. 03:00

Placement of Subordinated Bonds with 32 years tenor for a total of 2 million UF.

BancoEstado successfully placed series M4  bonds for a total of UF 2 million, equivalent to US$ 90 million. This instrument as a remaining term of 32 years and a duration of 20.1 years, with a placement rate of 3.02%, and  a  spread of 107 risk-free base points, once again giving evidence of the trust that institutional investors have in BancoEstado, with levels of demand that treble the value of the issue.

The objective of this placement operation was to strengthen the net worth of BancoEstado and support the development of its commercial operations..

The bonds placed have  AA+ (ICR) and AA(Fitch) ratings, with semi-annual interest payments and a capital amortization  paid in a single installment on the date of maturity.

This is the ninth placement  in 2014 in the national market and was carried out through the Santiago Stock Exchange as a Dutch Auction, with the BancoEstado S.A. Corredores de Bolsa placement agency.

BancoEstado is extremely stable and solvent and has one of the best risk classifications in the market, which enables it to offer investors profitable safe and reliable financial instruments.