Nov. 3 (Bloomberg) -- Banco de Credito del Peru, the Andean country’s largest lender, sold $107 million worth of Chilean bonds in the second local-currency debt sale by a company based outside Chile.

BCP sold 2.7 Unidades de Fomento, Chile’s inflation- adjusted accounting unit, in five-year bullet bonds priced to yield 3.97 percent, or 140 basis points above central bank yields, the Lima-based lender wrote in an e-mailed statement.

The unit of Credicorp Ltd. plans to sell up to $300 million of bonds during the next year in Chile as an alternative foreign market to the U.S. and Europe, Alvaro Correa, head of finance, said Oct. 20. Mexico City-based America Movil SAB sold $145 million in Chile April 17 to become the first foreign company issuer of local debt.

“This is a milestone for BCP in terms of access to a new capital market capable of delivering competitive financing terms,” Correa wrote in today’s statement.

Larrain Vial SA Corredora de Bolsa and BCI Corredor de Bolsa SA managed today’s sale. BCP will use the proceeds to help finance its lending business.

To contact the reporter on this story: James Attwood in Santiago at jattwood3@bloomberg.net

Last Updated: November 3, 2009 11:30 EST