BancoEstado successfully issued first bond in swiss market
First international issuance of a chilean and latin-american commercial bank on the 10 year space
BancoEstado issued a CHF 100 million ten-year bond, with a 0.575% annual coupon, becoming the first chilean and latin-american commercial bank to tap the 10 year tenor on swiss market, as reported by its chief financial officer, Mr. Carlos Martabit.
“The issue achieved very positive conditions, strengthening the diversification strategy of our funding and consolidating our relationship with swiss institutional investors”, pointed the executive.
Mr. Martabit stated “the issuance reflects the confidence on BancoEstado rating which is the same as the Republic of Chile. We are always monitoring all relevant markets and it was a pleasant to know that investors are comfortable investing on us on a long tenor”.
In this opportunity, BancoEstado was advised by credit suisse.
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.