Itau Chile Extends Loan Deadline

Banco Itau Chile extended the deadline on a $150m 2-year term loan facility it is syndicating, to give Asian lenders time to participate, according to a banker with knowledge of the transaction. The deadline was expected November 23, but was moved to November 26. The transaction is also heard to be oversubscribed. HSBC, RBS, Wells Fargo, Commerzbank, Citi, Bank of America, Credit Agricole and BNP Paribas are joint leads on the transaction. Bank meetings were last Wednesday. Commitments are expected and the deal will close early December. Proceeds will be used to lend to Chilean corporates. The spread offered is of Libor plus 90bp.