Cleary Gottlieb Steen & Hamilton and Claro & Cia represented Banco del Estado de Chile in the update of its Luxembourg Stock Exchange Medium-Term Note Program. Carey and Davis Polk & Wardwell advised the arranger
Banco del Estado de Chile, the Chilean state-owned bank, 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.
Deutsche Bank acted as arranger on the transaction.
The Cleary team consisted of partner Andrés de la Cruz (Picture), counsel Emilio Minvielle, associate Ignacio Lagos, and international lawyer Juan Leguízamo. Senior attorney Allison Breault advised on banking regulation. Partner Jason Factor and associates Michael Sims and Sharon Wang advised on U.S. tax issues.
In Chile, Claro & Cia. advised Banco Estado with a team including José Luis Ambrosy and Josefina Covarrubias.
Carey advised Deutsche Bank with a team including Diego Peralta, Manuel José Garcés, José Ignacio Mercado, Stefano de Cristofaro, Elías Mohor, Paluska Solar Pleguezuelos, Antonio Dourthe, Nadia Jara Astudillo and Kriss Andía.
Davis Polk & Wardwell advised Deutsche Bank in US.
Involved fees earner: Kriss Andía – Carey; Stefano de Cristofaro – Carey; Antonio Dourthe – Carey; Manuel José Garcés – Carey; José Ignacio Mercado – Carey; Elías Mohor – Carey; Diego Peralta – Carey; Paluska Solar – Carey; José Luis Ambrosy – Claro y Cia; Josefina Covarrubias – Claro y Cia; Allison Breault – Cleary Gottlieb Steen & Hamilton; Andrés De la Cruz – Cleary Gottlieb Steen & Hamilton; Jason Factor – Cleary Gottlieb Steen & Hamilton; Ignacio Lagos – Cleary Gottlieb Steen & Hamilton; Juan Ignacio Leguízamo – Cleary Gottlieb Steen & Hamilton; Emilio Minvielle – Cleary Gottlieb Steen & Hamilton; Michael Sims – Cleary Gottlieb Steen & Hamilton; Xiaoyang Wang – Cleary Gottlieb Steen & Hamilton;