Daniel Parodi (slider1)

PPU advises Santander Chile on Swiss franc bond issuance

Philippi Prietocarrizosa Ferrero DU & Uría Chile has advised Banco Santander Chile on its return to the international market by issuing a CHF 225 million (equivalent to US$ 263 million) three-year Swiss franc bond.

This issue was made on January 25, involved the jurisdictions of Chile, the US and Switzerland, and achieved a spread of 125 basis points over the benchmark rate, equivalent to a coupon of 2.445%. Davis Polk & Wardwell advised Santander in the US.

The results of this transaction reflect the strong investor interest and demand, making it the third largest placement by a Chilean issuer in this market.

PPU’s team was led by partner Daniel Parodi (pictured), with support from associates Juan Ignacio Rosales and Tomás Canales.

L Giselle Estrada