Santander Chile inks $175 mln syndicated loan

Aug 12 (Reuters) – Chile’s top bank, Santander Chile, said on Thursday it inked a $175 million syndicated loan with eight banks, as the financial institution seeks to diversify its financing sources.

Santander Chile STG.SN said the 18-month credit priced at libor plus 80 basis points was subscribed with banks in Peru, Italy, Great Britain, Taiwan, Japan and Malaysia.

“The revenue from this loan will be used for general corporate purposes, mostly to finance loan activity,” the bank said in a statement.

Santander Chile has filed to issue either a 25- to 30-year $122 million bonds with a 3.9 percent coupon, IFR, a Thomson Reuters service, reported on Wednesday.

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