Chile's BHIF Leasing is securitizing its house leasing contracts, in what will be the second Chilean deal involving house leases, after a $7 million transaction for Banco Santander Central Hispano.

The transaction involves approximately $13 million in notes denominated in units pegged to the inflation rate (UFs). The notes will have a 20-year final maturity - which is the maximum length of a leasing contract - and a AAA rating from Duff & Phelps Credit Rating Co.

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