Itau Chile Grows Syndication

Banco Itau Chile has signed a $200m 2-year syndicated loan, which it upsized from the $150m originally planned, following oversubscription. Closing and funding is expected Friday. HSBC, RBS, Wells Fargo, Commerzbank, Citi, Bank of America, Credit Agricole and BNP Paribas are joint leads on the transaction. Each of the banks committed $25m, according to bankers with knowledge of the transaction. Retail commitments were heard to have come from 2 other banks, one of which was a Taiwanese bank. The spread on the loan is Libor plus 90bp, with proceeds being used to lend to Chilean corporates.