SanChile currency tour goes on with Tokyo Pro-Bond

Japanese yen
By Oliver West
16 Apr 2014

Santander’s Chilean arm, the largest bank in the South American country, issued in its fifth currency of the year this week as it became the second borrower — and first from Latin America — to raise money in the Tokyo Pro-Bond market.

Aa3/A/A+ rated Santander Chile raised ¥27.3bn ($267m) in three tranches on Wednesday, following last week’s dollar-denominated FRN and other bond issues in Chilean pesos, Australian dollars and Swiss francs earlier in 2014.

“The bank’s funding team is pretty savvy,” said one EM bond origination banker. ...

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