Felipe Larrain, the countryâs finance minister, announced that the authorities are launching the sale to help fund the restructuring of its financial system following an earthquake which hit the state earlier in the year.
The government is planning on selling $1 billion worth of securities in dollars while a further $500 million will be sold as ten-year âpeso-denominated bondsâ, the Wall Street Journal reported.
Mr Larrain, who was quoted by Bloomberg, said: âChile has been absent from the debt markets for six years and this is our return.â
âItâs impossible to predict the yield because that depends on market conditions in the moment. But we have very favourable conditions for the issuance in dollars and that in pesos.â
According to the news provider, representatives from the Chilean government will meet investors in New York and Los Angeles during the forthcoming week.
The earthquake caused $30 billion worth of damage when it struck in February.
By Jim Ottewill