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Free AccessGovernment May Boost Offshore 2023 Bond Sales by $1b: Itaú
- Chile’s Finance Ministry could sell about $1b in bonds on top of the $15b already planned for this year after announcing last week that it planned to double dollar sales in the local market until Dec., according to Itaú economists. (BBG)
- Itaú detailed that from its $15b bond sale plan approved for this year, Chile still has room to sell $2b in local currency denominated offshore bonds.
- Foreign investors typically buy 40% of those sales, which means that they should lead to about $800m in dollar inflows to Chile.
- “Considering persistent CLP revenue underperformance this year, the MoF could announce a complementary debt issuance plan of roughly $1 billion, on top of the $15 billion that has already been announced, without the need of requesting additional authorization from Congress”.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.