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Commentary & Deal Flow

NEW ISSUE: Banco Santander Chile CHF 100m (WNG) 5yr Green Sr Unsec; SARON MS+85/90bp

EM LATM: Deal Flow - GeneralIGC European Market: Deal Flow - General

Issuer

Term

Maturity

Size

Ranking

Type

GUIDANCE

Banco Santander Chile

5yr

26-Aug-31

CHF 100m (WNG)

Sr Unsec

Fixed

SARON MS+85/90


Guidance: 5yr: SARON MS+85/90bp


  • Issuer: Banco Santander Chile
  • Ticker: BSANCI
  • Issuer Ratings: A- (st.) / A2 (st.) (S&P/Moody's)
  • Exp. Instrument Ratings: A- / A2 (S&P/Moody's)
  • Issuer Domicile: Chile
  • Format: New Foreign Public Fixed Rate Green Bond
  • Ranking: Senior unsecured
  • Size: WNG CHF 100m
  • IPTs: SARON MS +85.0/+90.0 bps / YTM 1.2725/1.3225% / Govt +102.3/+107.3 bps
  • Coupon: Ind. 1.2725% (30/360; following unadj.) - will price at par
  • Settle: 26-Aug-26
  • Maturity: 26-Aug-31 (5.00 years)
  • Bookrunners: Zürcher Kantonalbank / BNP Paribas
  • Green Bond Coordinator: BNP Paribas
  • Listing: SIX Swiss Exchange
  • SNB Repoeligibility: At the discretion of the SNB, expected no
  • Documentation: Issued under the US$ 5,500,000,000 Medium-Term Notes Programme of Banco Santander Chile as documented in the Base Prospectus dated 26-Jun-26, as supplemented from time to time
  • Governing Law: New York Law
  • FinSA Prospectus: Prospectus will be available at a later stage in accordance with art. 51 FinSA
  • Covenants: PP, XD
  • Use of Proceeds: Prior to the Maturity Date, the Issuer will allocate an amount equal to the net proceeds from the issuance and sale of the Notes to purchase “green mortgages,” which are mortgages that are used to finance the purchase of real estate in certain buildings in Chile that meet the applicable efficiency criteria in accordance with the Santander Group’s Green, Social & Sustainability Funding Global Framework (the “Framework”) within 36 months of issuance. The Notes will constitute “green” labelled funding instruments pursuant to the Framework
  • Green, Social & Sustainability Funding Global Framework: https://www.santander.com/content/dam/santander-com/en/contenido-paginas/nuestro-compromiso/financiaci%C3%B3n-de-proyectos-sostenibles/prf-santander-gss-global-funding-framework-june-2023-en.pdf
  • Denomination: CHF 5'000 and multiples thereof
  • Selling Restrictions: In particular United States, US persons, EEA, United Kingdom, Luxembourg, France, Italy, the Netherlands, Japan, Hong Kong, Singapore, Australia, Dubai, Brazil, Peru, Chile and Canada
  • Target Market: As defined by the manufacturer domiciled in the EEA and UK (MIFID II / UK MIFIR Product Governance): Eligible counterparties, professional clients and retail clients in Switzerland only (all channels for distribution), subject to applicable selling restrictions
  • Timing: Today, books can close at short notice