Key Developments: CorpBanca (BCA)
16.08USD
18 Jun 2013
$-0.26 (-1.59%)
$16.34
$16.28
$16.31
$16.05
15,975
25,433
$22.80
$15.83
Latest Key Developments (Source: Significant Developments)
CorpBanca Raises More Than $620 Million In New Capital
CorpBanca announced that it has raised more than $620 million in connection with an increase in capital through the issuance of 47,000,000,000 new common shares. All of such common shares were subject to a preemptive rights offering under Chilean law, which ended on February 14, 2013. With less than 24 hours after the closing of such preemptive rights period, CorpBanca completed 100% of the abovementioned capital increase. Full Article
CorpBanca To Propose FY 2012 Dividend Payment
Corpbanca announced that it will propose during the next shareholders meeting on March 7, 2013 to distribute a dividend for fiscal year 2012 of a total CLP 60,039,998,173 at a value of CLP 0.1764023878 per share. Full Article
CorpBanca Closes Offering Of USD800 Million Senior Notes Due 2018
CorpBanca announced the closing of offering USD800,000,000 aggregate principal amount of 3.125% Senior Notes due 2018. The Notes were issued pursuant to an indenture dated January 15, 2013. The Notes are unsecured and unsubordinated obligations and bear interest at 3.125% per year, payable semiannually on January 15 and July 15 of each year, beginning July 15, 2013. CorpBanca may redeem the Notes, in whole but not in part, by paying the greater of the outstanding principal amount of the Notes and a make-whole amount, plus accrued and unpaid interest to the date of the redemption. CorpBanca may further redeem the Notes in whole, but not in part, at any time, at par, if certain changes relating to Chilean taxes, or any taxes imposed by any other jurisdiction from or through which CorpBanca makes any payment under the Notes occur, plus accrued and unpaid interest, if any, to the date of redemption. The Notes will mature on January 15, 2018, unless the Notes have been redeemed prior to the maturity date. CorpBanca expects to use the net proceeds of this offering for general corporate purposes, primarily to fund lending activities. Citigroup Global Markets Inc. and J.P. Morgan Securities LLC are acting as joint book-running managers for the offering. Full Article
CorpBanca Announces Further Details On Bonds Placement
CorpBanca announced that on January 15, 2013 it completed the placement of bonds on the international markets in the amount of USD 800,000,000, a maturity of five years and an annual interest rate of 3.125%. Full Article
CorpBanca Announces Pricing Of Senior Notes
CorpBanca announced the pricing of $800,000,000 aggregate principal amount of 3.125% senior notes due 2018 (the Notes). The Notes will be issued pursuant to an indenture. The sale of the Notes is expected to be completed on or about January 15, 2013, subject to customary closing conditions. The Notes are unsecured and unsubordinated obligations and bear interest at 3.125% per year, payable semiannually on January 15 and July 15 of each year, beginning July 15, 2013. CorpBanca may redeem the Notes, in whole but not in part, by paying the greater of the outstanding principal amount of the Notes and a "make-whole" amount, plus accrued and unpaid interest to the date of the redemption. CorpBanca may further redeem the Notes in whole, but not in part, at any time, at par, if certain changes relating to Chilean taxes, or any taxes imposed by any other jurisdiction from or through which CorpBanca makes any payment under the Notes occur, plus accrued and unpaid interest, if any, to the date of redemption. The Notes will mature on January 15, 2018, unless the Notes have been redeemed prior to the maturity date. CorpBanca expects to use the net proceeds of this offering for general corporate purposes, primarily to fund lending activities. Citigroup Global Markets Inc. and J.P. Morgan Securities LLC are acting as joint book-running managers for the offering. Full Article
CorpBanca Agrees On Conditions For Bonds Placement
Corpbanca announced that on January 10, 2013 it has agreed on conditions for bonds placement for the amount of USD 800,000,000, with a maturity of five years and with an interest rate of 3.125% payable semi-annually in the months of July and January of each year. Full Article
CorpBanca Announces Offering Of Senior Notes
CorpBanca announced that the offering of senior notes (the "Notes"). The Notes will be issued pursuant to an indenture. The sale of the Notes is expected to be completed on or about January 14, 2013, subject to customary closing conditions. CorpBanca expects to use the net proceeds of this offering for general corporate purposes, primarily to fund lending activities. Citigroup Global Markets Inc. and J.P. Morgan Securities LLC are acting as joint book-running managers for the offering. Full Article
CorpBanca Announces Offering Of Common Shares, Including Common Shares In Form Of American Depositary Shares
CorpBanca announced 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 USD285 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. Full Article
CorpBanca Announces Further Details On Capital Increase
CorpBanca announced that in the Extraordinary General Meeting of Shareholders held on November 6, 2012, the shareholders agreed on a share capital increase of CLP 638,234,417,559 through the issuance of 47,000,000,000 ordinary shares. Full Article
CorpBanca’s Shareholders Approve USD 600 Million Capital Increase; IFC To Subscribe For Shares-DJ
Dow Jones reported that CorpBanca’s shareholders approved a USD 600 million capital increase with the proceeds earmarked to finance part of the purchase of Colombia's Helm Bank SA. The increase will take place between late 2012 and early 2013. International Finance Corp. (IFC), the private-sector financing arm of the World Bank, will subscribe part of the increase by acquiring the stocks the Company's controllers won't subscribe as part of their pre-emptive rights option. Full Article
STXNEWS LATAM-Chile's CorpBanca raises $620 mln in capital hike
Chilean bank CorpBanca said it raised more than $620 million in a capital increase to help pay for the purchase of Colombia's Helm Bank.
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