CorpBanca Announced the Offering of Common Shares, Including Common Shares in the Form of American Depositary Shares
December 13 2012 - 5:19PM
Marketwired
CorpBanca, (NYSE: BCA) announced today 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"). 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"). CorpBanca and the selling shareholder may also offer
common shares in Chile simultaneously with the offering.
The offering will close on the date that CorpBanca's Board of
Directors approves. 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:
CORPBANCA S.A. Rosario Norte 660 Las
Condes Santiago, Chile Attention: Investor Relations Telephone
Number: +56 (2) 2660-2555 investorreations@corpbanca.cl
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.
About CorpBanca
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.
CAUTION REGARDING FORWARD-LOOKING
STATEMENTS
This press release contains forward-looking
statements. Forward-looking information is often, but not always,
identified by the use of words such as "anticipate", "believe",
"expect", "plan", "intend", "forecast", "target", "project", "may",
"will", "should", "could", "estimate", "predict" or similar words
suggesting future outcomes or language suggesting an outlook.
Forward-looking statements and information are based on current
beliefs as well as assumptions made by and information currently
available to CorpBanca concerning anticipated financial
performance, business prospects, the expected impact of the
acquisition, strategies and regulatory developments. Although
management considers these assumptions to be reasonable based on
information currently available to it, they may prove to be
incorrect. By their very nature, forward-looking statements involve
inherent risks and uncertainties, both general and specific, and
risks that predictions, forecasts, projections and other
forward-looking statements will not be achieved. We caution readers
not to place undue reliance on these statements as a number of
important factors could cause the actual results to differ
materially from the beliefs, plans, objectives, expectations and
anticipations, estimates and intentions expressed in such
forward-looking statements. Furthermore, the forward-looking
statements contained in this press release are made as of the date
of this press release and CorpBanca does not undertake any
obligation to update publicly or to revise any of the included
forward-looking statements, whether as a result of new information,
future events or otherwise. The forward-looking statements
contained in this press release are expressly qualified by this
cautionary statement.
CorpBanca Contact Investor Relations, CorpBanca Santiago,
Chile Phone: +56 (2) 2660-2555 investorreations@corpbanca.cl
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