Banco Santander Chile issued its first “Kangaroo Bond” (bonds issued by a foreign-denominated Australian dollars under Australian Law), which is in turn, the first of a Latin American bank in that format. The issuance was for AUD 125 million, which is equivalent to about US$ 115 million, with a maturity of 3 years and a coupon rate of 4.5%.
According to Pedro Murua, Manager of Financial Analysis and Structuring at Banco Santander Chile: ” This transactions allows us to continue diversifying our funding base and reflects the fact that investors recognize Chile and Banco Santander Chile, as a safe and reliable place where to invest .”
The joint book runners were Deutsche Bank and Bank of America Merrill Lynch.