Santander Chile returns to the Swiss market with the largest placement by a Chilean issuer since 2014
January 11 2024 - 3:15PM
Banco Santander Chile's (NYSE: BSAC) announced its return to the
Swiss market with the largest placement by a Chilean issuer since
2014.
Santander Chile returns to the international
market with the successful issuance of a bond in Swiss francs for
CHF 225 million (equivalent to US$ 263 million) with a term of
three years, achieving a spread of 125 basis points over the
reference rate, equivalent to a coupon of 2.445%. The results of
this transaction reflect the great interest and demand from
investors, making it the third largest placement of a Chilean
issuer in this market. The previous two also belong to Banco
Santander, for CHF 250 million in 2010 and for CHF 300 million in
2014.
This new operation consolidates the excellent
reception of Santander-Chile in international markets, considering
that the entity had not issued new bonds in this market since 2021.
Thanks to this recent instrument, the Bank's position in the Swiss
Franc market is around CHF 900 million (close to US$ 1,000
million), consolidating itself as the second most relevant market
within the entity's financing diversification strategy, thus
reaching around 25% of the total foreign debt.
For Emiliano Muratore, Chief Financial Officer
of Santander, “this issue is part of our objective of maintaining
the diversification of our funding sources. Having the trust of
foreign investors is absolutely key for us to achieve our goals
and, thereby, advance in the Bank's strategic plan.”
About Banco SantanderBanco
Santander Chile is the largest bank in the Chilean market. As of
September 30, 2023, it has total assets of $72,491 billion, total
gross loans at amortized cost of $40,139 billion, deposits of
$28,555 billion and total equity of $4,193 billion. The BIS capital
ratio is 17.1%, with a core capital ratio of 10.7%. Employs 9,077
people and has 254 branches throughout Chile. Banco Santander Chile
is one of the companies with the highest risk classifications in
Latin America with an A2 rating from Moody's, A- from Standard and
Poor's, A+ from Japan Credit Rating Agency, AA- from HR Ratings and
A from KBRA, all have a Stable Outlook.
CONTACT INFORMATIONCristian VicuñaChief
Strategy Officer and Head of Investor RelationsBanco Santander
ChileBandera 140, Floor 20Santiago,
ChileEmail: irelations@santander.clWebsite: www.santander.cl
Banco Santander Chile (NYSE:BSAC)
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