BancoEstado made a successful placement of subordinated bond
The entity informed that the main target of this placement is funding growth in loans and commercial development of the Bank, continuing thus supporting their clients in the development of their activities.
Placed bonds have 16.9 years duration, and are rated AA + (Feller & Rate) and AA (Fitch). Interest payments are biannual and the amortization period begins at year 25.
This operation was held at the Santiago Stock Exchange, during the first "Dutch" auction, through the underwriter BancoEstado SA Stockbrokers, which aroused great interest among institutional investors, reflected in a UF 4.5 million demand.
BancoEstado shows an excellent stability, solvency and one of the best risk ratings of the financial system, offering more profitable, safe and reliable financial instruments to investors.