BancoEstado issues “Microfinance Bond”
Following the trend of bonds with social responsible investment, BancoEstado issues its third bond this year in the International Market.
BancoEstado tapped a US$ 100 million, 10 year with an annual fixed rate of 2.66%. Bond is named as “Microfinance Bond” associated to Social Responsible Investments. This bond was demanded for Japanese investors. Thus, BancoEstado reaffirms its commitments to microfinance in Chile.
Carlos Martabit, Chief Financial Officer comments that "this new issue is part of our constant search for new funding sources and in this case associated to Social Responsible Investments”.
“We continue to see a tendency in regards to the growing interest of investors in demand for this new type of bonds and we see portfolios specialized in these topic”, Martabit commented. He added “BancoEstado has been a pioneer on those instruments in Chile”.
Mr. Martabit said, in this opportunity BancoEstado was advised by Credit Agricole
BancoEstado has an excellent condition of stability, solvency and one of the best ratings in the Chilean financial system, offering investor profitable, safe and reliable financial instruments.