Estará bien is a Spanish equivalent of 'It will be o.k.' The verb 'estará' means '[he/she/it/formal singular you] will be'. The adverb 'bien' means 'well, o.k., fine'. Together, they're pronounced 'eh-stah-RAH byehn'.
okay
?esta bien?
bueno
Estoy bien.
okay
esta bien
it means okay
está bien
Estaba bien?
Está bien. It's good, It's okay.
Okay (so-so) in Spanish is "Asi-asi"
bien, lo haré