Banco de Chile Preps Share Sale

Banco de Chile is preparing a 1.4bn share equity follow-on, according to documents filed with the SEC. Shareholders approved a total capital raise of up to 3.39bn shares in January. Marketing is set to begin on March 15, with pricing expected March 30. The filing names the bank’s Banchile Corredores unit and LarrainVial as bookrunners. Banco de Chile plans to use the proceeds for general corporate purposes, mainly growing its lending operations.