Chile’s Corp Group Goes Private

Chile-based Corp Group Banking has closed a $100m private placement of 7.5% notes due 2014. The Reg S deal through Celfin was offered and sold outside the US. Corp Group Banking is a privately-owned Chilean company with a 50.86% ownership interest in CorpBanca, a commercial bank listed in Chile which has ADRs on NYSE. Dechert acted as US counsel to the issuer.