Chile continues diversification play with sustainable Formosa

Chile, Atacama, wind farm, green bond, sustainability, sustainable, renewable energy, LatAm, 575
By Oliver West
31 Mar 2021

Just over two months after it last issued internationally, Chile returned to primary markets on Tuesday with a sustainable Formosa bond. The deal was the second ever Formosa from a Latin American sovereign and comes as Chile makes efforts to diversify its funding sources.

Bookrunners Crédit Agricole and Goldman Sachs set initial price thoughts at 140bp over US Treasuries for Chile’s proposed 30 year SEC-registered sustainable Formosa bond.
The A1/A/A- rated issuer attracted nearly $3.5bn of orders to the 2052 note, and proceeded to set guidance at 3.5%-3.55% area on ...

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