Banco Falabella places US$103mn of bonds in 2 tranches

Tuesday, October 4, 2011

Chilean lender Banco Falabella sold two tranches of bonds worth a total of 55.1bn pesos (US$103mn), the bank said in a press release.

The 21-year, C series bonds were sold with a 3.9% annual coupon, while the seven-year, D series bonds were placed with a 3.45% interest rate.

Proceeds from the issue will go to hedge the bank's interest rate risk, the release reads.

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Banco Falabella focuses mainly on the consumer loan segment and is a subsidiary of the country's largest retailer, Falabella.