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Article: Banco Santander Chile Commences Exchange Offer.
- Article from:
- PR Newswire
- Article date:
- December 13, 2002
CopyrightCOPYRIGHT 2002 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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* Banco Santander Chile today commenced an offer to exchange its outstanding 7% subordinated notes due 2007 for new subordinated notes due 2012 and a US dollar amount in cash. * Up to US$300,000,000 of Banco Santander Chile's new notes will be available for the voluntary exchange offer. * The purpose of the exchange offer is to extend the maturity profile of the Bank's subordinated indebtedness and thus allow the Bank to extend the time that its subordinated debt will qualify under Chilean banking regulations as regulatory capital. * The new notes are rated A3 by Moody's and BBB+ by Standard and Poor's.
Banco Santander Chile today commenced an offer to ...