Banco Santander Chile’s $750 Million Senior Notes Offering

Davis Polk advised Banco Santander Chile, while Shearman & Sterling represented the dealers in connection with the notes offering.

Banco Santander Chile completed an offering of $750 million aggregate principal amount of its 2.700% senior fixed-rate notes due 2025, issued under Banco Santander Chile’s $5.5 billion medium-term notes program.

Santander expects to use the net proceeds from the offering for general corporate purposes.

Credit Agricole Securities (USA) Inc., Daiwa Capital Markets America Inc., Goldman Sachs & Co. LLC, Santander Investment Securities Inc. and Wells Fargo Securities acted as dealers in the offering.

Banco Santander Chile is one of the largest banks in Chile in terms of total assets and loans, with operations in commercial banking, retail banking, asset management and insurance. Banco Santander Chile is a member of the Santander Group, the principal financial group in Spain and one of the largest financial groups in the world in terms of market capitalization.

The Davis Polk capital markets team included partner Nicholas A. Kronfeld (Picture) and associate Hillary A. Coleman. The tax team included counsel Ethan R. Goldman. Associate Matthew R. Silver provided 1940 Act advice.

The Shearman & Sterling team was led by Stuart K. Fleischmann and Grissel Mercado, and also included visiting attorney Miguel Torres Caro.

Involved fees earner: Hillary Coleman – Davis Polk & Wardwell; Ethan Goldman – Davis Polk & Wardwell; Nicholas Kronfeld – Davis Polk & Wardwell; Matthew Silver – Davis Polk & Wardwell; Stuart Fleischmann – Shearman & Sterling; Grissel Mercado – Shearman & Sterling;

Law Firms: Davis Polk & Wardwell; Shearman & Sterling;

Clients: Banco Santander Chile; Credit Agricole Securities (USA) Inc.; Daiwa Capital Markets América Inc.; Goldman Sachs & Co.; Santander Investment Securities Inc.; Wells Fargo Securities;

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Author: Ambrogio Visconti