Bonds

Chile Taps Global Debt Markets With $1.7 Billion Social Bond

South American country sold new notes maturing in seven years
Transaction is one of the first EM bond sales in second half

A Chilean national flag flies at Plaza de la Ciudadania in Santiago, Chile, on Monday, May 20, 2024. Chile's economy recorded the fastest quarterly growth since 2021, when government stimulus fueled domestic demand during the pandemic, as both mining output and consumption increased while slowing inflation and falling interest rates provided much-needed relief.Photographer: Cristobal Olivares/Bloomberg

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By Julia Leite and Vinicius Andrade

July 2, 2024 at 12:22 PM UTC

Updated on

July 2, 2024 at 5:23 PM UTC

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Chile tapped debt markets with a social bond, one of the first sales by emerging-market sovereigns in what’s expected to be a slower second half of the year after a flurry of activity in early 2024.

The South American nation sold 1.6 billion euros ($1.7 billion) of notes due in 2031 at a spread of 105 basis points over mid-swaps, according to a person familiar with the matter who asked not to be identified. That compares with the initial price talk of around 130 basis points.