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Article: Banco Santander Chile Issues US$200 Million in Subordinated Bonds.
- Article from:
- Business Wire
- Article date:
- October 28, 1998
CopyrightCOPYRIGHT 1998 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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NEW YORK--(BUSINESS WIRE)--Oct. 27, 1998--
First Latin American Private Sector Issue Since
New Bout of Global Instability
Banco Santander Chile today issued US$200 million in SEC-registered seven year subordinated bonds with a coupon of 6.50%, maturing on November 1, 2005. The issue was launched at a price of 99.524 to yield 6.585%, a spread of 210 basis points over the November 2008 5 7/8 U.S. Treasury. The issue is rated Aaa by Moody's Investor Services and AAA by Standard and Poor's, and is insured by MBIA Insurance Corporation. Banco Santander Chile's subordinated bond ratings are Baa1/A-, the same ratings as Chile. J.P. Morgan acted as ...