Chile draws heavy interest on new 20-year social bond

摘要

CHILE drew robust interest across its two-tranche transaction, including a tap of its 2.45% 2031 bond and a new 20-year social bond last Tuesday, garnering most of the interest on the latter. The sovereign squeezed pricing to launch its 2.45% 2031 tap at a size of US$500m at Treasuries plus 75bp and US$1.5bn 20-year bond at Treasuries plus 115bp. Final books across both tranches were around US$5.3bn, according to sources close to the deal. Most of the interest skewed towards the new 20-year bond, prompting leads to relaunch the transaction to sell more of the 20-year debt. Upon relaunching the deal, the 2031 tap was cut to US$300m and the 20-year was upsized to US$1.7bn.