BancoEstado in CHF 150 Million and JPY 5 Billion Offerings

Cleary Gottlieb represented Banco del Estado de Chile (BancoEstado) in two Reg S offerings of CHF 150 million 1.25% senior fixed-rate notes due 2032 and JPY 5 billion 2.64% senior fixed-rate notes due 2031.

Each series of notes was issued under BancoEstado’s medium-term notes program.

The CHF notes will be listed on the SIX Swiss Exchange, and the JPY notes will not be listed on any stock exchange.

Both offerings priced on July 7, 2026, and closed on July 22, 2026.

Zürcher Kantonalbank acted as dealer for the CHF notes, while SMBC Bank International plc acted as dealer for the JPY notes.

BancoEstado is wholly owned by the Republic of Chile and is one of the oldest financial institutions in Chile, with its predecessor starting operations in 1855. BancoEstado is also one of the largest financial institutions in Chile in terms of aggregate loans, number of customers, and geographic coverage.

The Cleary team included partner Ignacio Lagos, and associates Martin Sasson and Lucas Davidenco.