Banco Santander Chile returns to the Swiss market with a new issuance for CHF 150 million

Tuesday March 12, 2019. 

Despite the high volatility seen on the International markets, the interest from investors has led to a successful bond placement by Banco Santander Chile .

Banco Santander Chile successfully placed a bond in Swiss francs for a total of CHF 150 million (equivalent to US$ 149 million) with a term of five years and six months. The spread obtained was 67 basis points above the Mid-Swap, equivalent to a fixed interest rate of 0.384%

Banco Santander Chile currently has four bonds outstanding in Switzerland and the previous issuance in this market was in September  2018.

For Emiliano Muratore, Chief Financial Officer of Santander Chile, "this new issuance is a reflection of the excellent positioning of the Bank in the international markets. Despite the uncertainty we have seen in the markets in recent months, the Swiss debt market continues to present an attractive option for us compared to the local market. This transaction also allows us to continue to diversify our investor base."

 About Banco Santander Chile

Banco Santander Chile is the largest Bank in Chile in terms of loans. As of  December 31, 2018, we had total assets of Ch$39,197 billion (U.S.$56.2 billion), outstanding loans net of allowances for loan losses of Ch$29,486 billion (U.S.$42.3 billion), total deposits of Ch$21,809 billion (U.S.$ 31.3 billion) and equity of Ch$3,286 billion (U.S.$4.7 billion). Our BIS ratio at December 2018 was 13.4%, with a core capital ratio of 10.6%. Our long-term credit risk rating are A1 by Moody's, A by Fitch and A by Standard & Poor's.

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Source: Banco Santander-Chile via Globenewswire