Banco del Estado de Chile in $500 Million Bond Offering

October 7, 2010

Cleary Gottlieb represented Banco del Estado de Chile in its inaugural international bond offering, involving the issuance of $500 million of 4.125% senior notes due 2020. Deutsche Bank and JPMorgan Chase were the initial purchasers of the notes. The offering priced on September 30 and closed on October 7. The notes will be listed on the Luxembourg Stock Exchange and were sold in the United States in a private placement under Rule 144A of the Securities Act of 1933 and outside of the United States in reliance on Regulation S.

Banco del Estado de Chile is one of the largest consumer and commercial banks in Chile, and is wholly owned by the Chilean government.