New Issue: Chile sells €830 million 1.44% 11-year notes at mid-swaps plus 35 bps

By Rebecca Melvin

New York, Jan. 25 – Republic of Chile priced €830 million of 1.44% 11-year notes (expected ratings: Aa3/A+/A) on Thursday at 99.909 to yield 1.449%, or a yield spread of mid-swaps plus 35 basis points, according to a market source.

Pricing was set below guidance for a yield of mid-swaps plus 40 bps to 45 bps, which was revised from initial talk at mid-swaps plus 50 bps to 55 bps.

BNP Paribas, HSBC and Santander were the bookrunners for the Securities and Exchange Commission-registered deal.

Issuer:	Republic of Chile
Amount:	€830 million
Description:	Notes
Maturity:	Feb. 1, 2029
Bookrunners:	BNP Paribas, HSBC and Santander
Coupon:	1.44%
Price:	99.909
Yield:	1.449%
Spread:	Mid-swaps plus plus 35 bps
Trade date:	Jan. 25
Settlement date:	Feb. 1
Ratings:	Moody’s: Aa3
	S&P: A+
	Fitch: A
Distribution:	SEC registered
Price guidance:	Mid-swaps plus 40 to 45 bps, revised down from mid-swaps plus 50 to 55 bps

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.