Itau Chile Clinches Equity Funds

The Chilean unit of Brazil’s Itau has completed a $150m equity capital increase, it says. Proceeds will fund expansion and help the bank maintain adequate levels of solvency. Separately, the bank has also closed its $200m 2-year syndicated loan launched in October. The facility pays Libor+140bp, and saw participation from 14 banks and drew 2x demand. Mizuho, Standard Chartered and Wells Fargo managed the deal, with Bank of America Merrill Lynch, National Bank of Abu Dhabi, BB&T, Chang Hwa, Citi, Commerzbank, Doha Bank QSC, HSBC, Mega Bank, Mitsubishi UFJ and National Bank of Kuwait participating, according to Dealogic data.