Banco de Chile places $187 million bond at 3.8pc yield

SANTIAGO: Banco de Chile, the country's second-largest bank, on Tuesday placed an inflation-indexed, peso-denominated bond worth the equivalent of $187 million on the local market, the company said in a statement with the Santiago Stock Exchange.

The 9.9 year bond has a 3.8 percent yield.

Banco de Chile, which is controlled by the local Luksic family and Citigroup Inc, has said it could issue up to $1.2 billion in bonds this year to help finance growth of its loans portfolio.

Banco de Chile shares were trading down 0.89 percent in early afternoon trading, while the broader Santiago blue-chip IPSA stock index dropped a smaller 0.61 percent.