CorpBanca Announced the Pricing of Offering of Common Shares, Including Common Shares in the Form of American Depositary Shares
(firmenpresse) - SANTIAGO, CHILE -- (Marketwire) -- 01/16/13 -- CorpBanca, (NYSE: BCA) announced today the pricing of the offering of 10,680,200,621 common shares, including common shares in the form of American Depositary Shares ("ADSs") in the United States and elsewhere outside the Republic of Chile ("Chile") at a price of US$19.75 per ADS. An additional 1,335,032,639 common shares, including common shares in the form of ADSs, are being offered by Mr. Fernando Aguad Dagach (the "selling shareholder"). The offering is expected to close on or about January 18, 2013, subject to customary closing conditions.
CorpBanca intends to use the net proceeds from the offering (i) to subscribe US$285 million of capital increase in its subsidiary Banco CorpBanca Colombia S.A. ("CorpBanca Colombia") in connection to (a) the acquisition up to 100% equity interest in Helm Bank S.A. and its subsidiaries ("Helm Bank") through a merger with CorpBanca Colombia; and (b) the acquisition up to 80% equity interest in Helm Corredor de Seguros S.A. ("Helm Insurance"); and (ii) to general corporate purposes.
On October 9, 2012, an affiliate of Inversiones Corpgroup Interhold Limitada ("CorpGroup") entered into an agreement to acquire up to a 100% equity interest in Helm Bank with the intent to merge with and into CorpBanca Colombia. The total purchase price of the acquisition of Helm Bank is US$1.3 billion plus interest accruing on such amount at the rate of 0.5% per month from January 1, 2013, until the purchase price is paid. In addition, certain affiliates of CorpGroup intend to acquire an 80% equity interest in Helm Insurance, an insurance broker, for US$17.1 million.
Helm Bank specializes in the corporate segment, medium enterprises and personal accounts with middle to high income. As of September 30, 2012, according to the Colombian Superintendency of Finance, Helm Bank was the ninth largest bank in Colombia in terms of total assets and the eighth largest bank in Colombian in terms of total deposits, as reported under local regulatory and accounting principles.
Banco BTG Pactual S.A. - Cayman Branch, acting on behalf of BTG Pactual US Capital, LLC is the sole bookrunner for the offering. Celfin Capital Corredores de Bolsa S.A. and CorpBanca Corredores de Bolsa S.A. are acting as co-managers for the offering.
The offering may be made only by means of a prospectus supplement and the accompanying prospectus, copies of which may be obtained by sending a request by writing or telephoning us at our principal executive offices at the following address:
Rosario Norte 660
Las Condes
Santiago, Chile
Attention: Investor Relations
Telephone Number: +56 (2) 2660-2555
A registration statement relating to these securities has been filed, and became effective upon filing, with the U.S. Securities and Exchange Commission. This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities nor shall there be any sales of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state. Any offer or sale will be made only by means of the written prospectus forming a part of the effective registration statement.
CORPBANCA (NYSE: BCA), is Chile's oldest operating private bank founded in 1871. CorpBanca's loan portfolio (excluding loans to banks) has grown at a compounded annual growth rate in nominal terms of 11.3% between January 1, 2009 and December 31, 2011. As of September 30, 2012, according to the Chilean Superintendency of Banks, CorpBanca was the fourth largest private bank in Chile in terms of the overall size of its customer loan portfolio (10.0% market share on a consolidated basis and 8.3% market share among private banks on an unconsolidated basis only taking into account its operations in Chile).
CorpBanca provides a broad range of commercial and retail banking services to its customers in Colombia through its subsidiary CorpBanca Colombia, operating principally in the cities of Bogotá, Medellín, Cali, Bucaramanga and Barranquilla. As of September 30, 2012, according to the Colombian Superintendency of Finance, CorpBanca Colombia was the twelfth largest bank in Colombia in terms of total assets, the tenth largest bank in Colombia in terms of total loans and the eleventh largest bank in Colombia in terms of total deposits, as reported under local regulatory and accounting principles.
Investor Relations, CorpBanca
Santiago, Chile
Phone: +56 (2) 2660-2555
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Datum: 16.01.2013 - 07:14 Uhr
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