BancoEstado Placed Bank Bonds
• Placement of 10-year bonds for a total of UF 3 million. • The instrument reached a 2.85% placement rate.
The financial institution informed that the main objective of this placement is to capture long term resources to match the commercial development of BancoEstado.
The bonds placed have AAA (ICR) and AAA (Fitch) ratings, with semi-annual interest payments and capital amortisation paid in a single instalment on the date of maturity.
The operation was carried out with the Santiago Stock Exchange as a Dutch Auction, through BancoEstado S.A. Corredores de Bolsa placement agency, generating enormous interest on the part of institutional investors, with a demand that was 3.6 times higher than the issue.
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.