PPU instructed on Entel´s private placement

Philippi Prietocarrizosa Ferrero DU & Uría advised the dealer managers in a private placement carried by Entel

Entel (Empresa Nacional de Telecomunicaciones) is Chile´s largest telecommunications company.

The private placement was carried out in connection with the newly-issued common shares not fully subscribed pursuant to Entel’s separate offering to its existing shareholders as of June 17, 2016 of the right to subscribe for up to 64,814,815 new common shares in a preemptive rights offering in Chile, the United States and elsewhere. The rights offering relates to a capital increase of a total of 71,500,000 shares.

Citigroup Global Markets, Credicorp Capital and Santander Investment Securities acted as dealer managers and retained a PPU team led by partner Marcelo Armas.