Scandal-Hit Banco Penta Bonds Rally After Owners Add Capital
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Banco Penta bonds rose after the bank at the center of a tax evasion and political financing scandal in Chile completed a $112 million capital increase following a jump in its borrowing costs.
Yields of its inflation-adjusted F series bonds due in 2018 fell 33 basis points to 3.86 percent at 11:10 a.m., according to data from the Santiago stock exchange. The Santiago-based bank, which has 1.3 trillion pesos ($2.1 billion) of total assets, focuses on corporate lending, money management and securities brokerage.