Banco de Credito e Inversiones’ $500 Million Medium-Term Notes Issuance

Simpson Thacher & Bartlett and Dentons Larrain Rencoret advised Banco de Crédito e Inversiones (BCI) on the transaction.
Cleary Gottlieb Steen & Hamilton and Carey represented BofA Securities, Inc., HSBC Securities (USA) Inc. and J.P. Morgan Securities LLC as dealers in the transaction.

Banco de Crédito e Inversiones (Bci) executed its offering of $500 million 2.875% notes due 2031, issued under its medium-term notes program.

The transaction priced on October 6, 2021, and closed on October 14, 2021. The notes will be listed on the Luxembourg Stock Exchange and traded on the Euro MTF market of the exchange.

Bci is the largest commercial bank in Chile in terms of total net loans and deposits and the second largest in terms of assets. It offers a wide range of banking and financial products and services (including commercial, real estate and consumer banking) to individuals, small- to mid-sized companies and large local and international corporations and institutions in Chile. Bci also provides international banking services through its branch in Miami (City National Bank of Florida), and its representative offices in Peru, Brazil, Mexico, Colombia and China.

Simpson Thacher & Bartlett advised Banco de Crédito e Inversiones (BCI) with Juan Naveira, sénior Jonathan E. Cantor, Antonio Ribichini and Jon Vicuña.

In Chile, Dentons Larrain Rencoret advised Banco de Crédito e Inversiones (BCI) with Felipe Rencoret,  Nicolás Reyes and Paula Alarcón.

The Cleary corporate team included partner Jorge Juantorena (Picture), associate Stephanie Monroe Rohlfs, and law clerk Carla Martini. Partner Jason Factor and associates Andrew Wasilick and Zhiyuan Zuo advised on U.S. tax issues

In Chile, Carey advised the underwriters.

Involved fees earner: Jason Factor – Cleary Gottlieb Steen & Hamilton; Jorge Juantorena – Cleary Gottlieb Steen & Hamilton; Stephanie Monroe Rohlfs – Cleary Gottlieb Steen & Hamilton; Andrew Wasilick – Cleary Gottlieb Steen & Hamilton; Zhiyuan Zuo – Cleary Gottlieb Steen & Hamilton; Paula Alarcón – Dentons; Felipe Rencoret – Dentons Chile; Nicolás Reyes – Dentons Chile; Jonathan Cantor – Simpson Thacher & Bartlett; Juan Naveira – Simpson Thacher & Bartlett; Antonio Ribichini – Simpson Thacher & Bartlett;

Law Firms: Cleary Gottlieb Steen & Hamilton; Dentons; Dentons Chile; Simpson Thacher & Bartlett;

Clients: Banco de Crédito e Inversiones; Bank of America Securities; HSBC Securities (USA) Inc.; J.P. Morgan Securities LLC;