Banco de Crédito e Inversiones (Bci) Completes Rights Offering and Private Placement of Common Shares
The Firm represented Banco de Crédito e Inversiones (Bci) in connection with (i) a rights offering to subscribe 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 unsubscribed common shares in reliance upon Section 4(a)(2) of the Securities Act and Regulation S under the Securities Act. Approximately 97.26% of the shareholders of Bci exercised their subscription rights in the rights offering and Bci raised approximately US$600 million in the transaction.
Bci is one of the largest commercial banks in Chile in terms of total assets, net loans and deposits.
The Simpson Thacher team included David Williams, Juan M. Naveira and Enrique Güijosa (Capital Markets); and Jonathan Cantor and Pierce Pandolph (Tax).