Chile’s BCI makes USD500 million perpetual notes offering
Isabella Ankerson
16 February 2024
Simpson Thacher & Bartlett LLP in New York has helped Chile’s Banco de Crédito e Inversiones (BCI) issue US$500 million worth of perpetual fixed-rate notes.
Two Cleary Gottlieb Steen & Hamilton LLP offices and Chile's Carey advised the dealer managers – BNP Paribas Securities, BofA Securities and HSBC Securities (USA) – in the transaction.
The deal closed on 8 February.
BCI launched the issuance under its medium-term notes programme. The notes carry an 8.75% interest rate. They will be listed on the Luxembourg Stock Exchange.
The bank will use the proceeds from this issuance for general corporate purposes.
Santiago-headquartered BCI is one of Chile’s largest banks – providing companies with services related to savings, deposits, securities brokerage, asset management and insurance. In November, the bank raised a total of US$698 million through a rights offering and a private placement of common shares. Simpson Thacher were also involved on that occasion.
Counsel to Banco de Crédito e Inversiones (BCI)
Simpson Thacher & Bartlett LLP
Partners Juan Naveira and Jonathan Cantor, counsel Kirsten Davis and associates Jon Vicuña, José Miguel Colin and Michael Slomovics in New York
Counsel to BNP Paribas Securities, BofA Securities and HSBC Securities (USA)
Cleary Gottlieb Steen & Hamilton LLP
Partners Adam Brenneman, Matthew Brigham and associate Nathaniel Pribil in New York; partner Chase Kaniecki and associate Stephanie Gullo in Washington, DC
Carey
Partners Diego Peralta and Fernando Noriega and associate José Luis Enberg in Santiago
