BancoEstado continues to strengthen the Bank’s ties with Asian Institutional Investors
The state owned financial institution taps the international markets with two new bonds, HKD and JPY-denominated for a total issuance amount of USD 195 million equivalent.
BancoEstado debuted in Hong Kong with a 15-year bond, USD 76 million equivalent. The Bank also priced its second transaction in the Japanese market, a 10-year USD 119 million equivalent issue.
According to Mr. Carlos Martabit, Chief Financial Officer, “both trades confirm our funding diversification strategy; BancoEstado has been able to position itself as a strong institution among Asian institutional investors”. The executive also commented, “We are trying to develop long term relationships with this investor base, as of today we have issued approximately USD 1 billion with Japanese investors”.
BancoEstado has tapped six different currencies, setting several milestones such as the first Chilean institution to access the Japanese market and issue social responsible instruments.
In this opportunity, Daiwa and Mitsubishi UFJ Morgan Stanley advised BancoEstado for the JPY bond and HSBC for the HKD bond.