Carey assists on $500m issue by BCI
Carey has assisted BofA Securities, Crédit Agricole CIB and J.P. Morgan on the Chilean aspects of Banco de Crédito e Inversiones (BCI)’s issuance of US$500m of bonds with no maturity.
The bonds were issued on 5 September under its US$6 billion medium-term bond programme at a rate of 7.500%. The transaction involved the Chilean and US jurisdictions.
Other advisory firms were Cleary Gottlieb Steen & Hamilton as international advisor to BofA Securities, Crédit Agricole CIB and J.P. Morgan; Simpson Thacher & Bartlett as international advisor to BCI; and Dentons and Ried Fabres as local advisors to BCI.
The bonds will be counted by the issuer as additional tier one (AT1) capital and were issued pursuant to Rule 144A and Reg S of the Securities Act of 1933.
This issuance allows BCI to increase its regulatory capital while facilitating its market diversification into international issuance.
Carey’s team was led by partners Diego Peralta (pictured left) and Fernando Noriega (pictured right), with support from associates José Luis Enberg and Felipe Reyes.
Cleary’s team comprised partners Adam Brenneman and Jonathan Mendes de Oliveira, and law clerk Mauricio Nieto.
Simpson Thacher’s team consisted of partner Juan Naveira and associate Jon Vicuña.
Dentons’ team was represented by partner Felipe Rencoret.
Ried Fabres’ team included partners José Miguel Ried and Ricardo Abogabir.
