Bonds & Loans awards Banco Santander Chile in Deals of the Year for the first issuance of a floating-rate Chilean peso bond i...
April 08 2019 - 5:55PM
Banco Santander Chile was awarded
by Bonds & Loans Latin America under the category Deals of the
Year, Financial Institutions, for the bond issuance in August 2018
for the first floating-rate Chilean peso bond in the local market.
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Emiliano Muratore, Chief Financial
Officer of Banco Santander Chile, stated that "this award
highlights the success of this instrument. Our team worked on the
development of this bond for over a year and included the help of
many local industry participants for this to work. The fact that we
were able to structure and issue this new Bond demonstrates our
solid position as leaders in the local market and that today is
also recognized on an international level".
The bond was issued through a
Dutch auction, with a final price of 101.02, representing a spread
of 66 basis point above the ICP[1]. The series
U4 for a total of Ch$75 billion will be due on January 10, 2022 and
has a local rating of AAA by Fitch Ratings and Feller Rate. After
this operation, Banco Santander Chile has successfully issued two
new instruments with similar characteristics, increasing its
investor base for this type of bonds.
About Banco Santander
Banco Santander Chile is the
largest bank in the Chilean market in terms of loans and assets. As
of December 31, 2018, the Bank had total assets of Ch$ 38,875
billion, net loans of provisions of Ch$ 29,807 billion, deposits of
Ch$ 21,373 billion, and total equity of Ch$ 3,332 billion. The BIS
capital ratio as of December 2018 was 13.4%, with a core capital
ratio of 10.6%. Banco Santander Chile is one of the companies
with the highest risk classifications in Latin America with an A1
rating from Moody's, A from Fitch, A from Standard and Poor's, and
A+ from Japan Credit Rating Agency.
[1] The average
Central Bank rate from the average interbank rate index (Indice de
Camara Promedio, or ICP) as calculated and published by the
Association of Banks and Financial Institutions of Chile on a daily
basis from the average interbank rate reported by the Central Bank
of Chile.
This
announcement is distributed by West Corporation on behalf of West
Corporation clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Banco Santander-Chile via Globenewswire
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