21 05 2016

Banco de Crédito e Inversiones' Rights Offering and Private Placement of Common Shares

Simpson Thacher represented Banco de Crédito e Inversiones (Bci) in connection with (i) a rights offering to subscribe up to 10,737,300 common shares in reliance upon Rule 801 and Regulation S under the Securities Act of 1933 (the “Securities Act”) and (ii) the private placement of common shares in reliance upon Section 4(a)(2) of the Securities Act and Regulation S under the Securities Act. Approximately 97.4% of the shareholders of Bci exercised their subscription rights in the rights offering and Bci raised approximately US$400 million in the transaction.


Bci is the fourth largest commercial bank in Chile in terms of total assets, net loans and deposits. The bank, led by Lionel Olavarria Leyton, Mario Gaete Hörmann, Spoerer Hurtado Gerardo Andres, Eric Recart Blaze and Germán Acevedo Campos, is based in Santiago. The Simpson Thacher team included David Williams (Picture), Juan M. Naveira and International Associate Tomás Holguin (Capital Markets); Jonathan Cantor and Taylor Alexander (Tax); and Mark Chorazak (Bank Regulatory). Involved fees earner: David Williams - Simpson Thacher & Bartlett; Juan Naveira - Simpson Thacher & Bartlett; Tomas Holguin Mora - Simpson Thacher & Bartlett; Jonathan Cantor - Simpson Thacher & Bartlett; Taylor Alexander - Simpson Thacher & Bartlett; Mark Chorazak - Simpson Thacher & Bartlett;

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