Carey and Davis Polk advised the banks on a Rule 144A and Regulation S offering by Banco de Crédito e Inversiones (BCI). The issuer instructed Simpson Thacher and Larraín, Rencoret y Urzúa.
BCI is the fourth-largest bank in Chile in terms of total assets. It has with operations in retail banking as well as in commercial banking targeting small- to medium-sized companies.
The transaction included an issuance of $500 million aggregate principal amount of 3.500% senior notes due 2027 under the BCI medium-term notes program.
Citigroup Global Markets, HSBC Securities, Standard Chartered Bank, Merrill Lynch and others acted as dealers.
The banks instructed Carey in Chile, with partner Diego Peralta leading the team.
Partner Maurice Blanco fronted the Davis Polk lawyers which provided NY counsel to the banks.
BCI instructed Simpson Thacher in NY with partner David Williams at the helm. Chilean law advise to BCI was handled by Larraín, Rencoret y Urzúa with partner Felipe Rencoret heading the group.