Banco Santander Chile Establishes a Medium Term Note Program for US$5.5 Billion

Mar 18, 2011, 08:24 ET from Banco Santander Chile

SANTIAGO, Chile, March 18, 2011 /PRNewswire/ -- Banco Santander Chile (NYSE: SAN; SSE: Bsantander) announced today that it has established a US$5.5 billion Medium Term Notes Program. Under this program, Banco Santander Chile will be able to issue medium term notes, which may be issued on a subordinated or unsubordinated basis. The notes will be denominated in any currency agreed between the Issuer and the relevant Dealers. Notes may be distributed only: (i) to qualified institutional buyers (as defined in Rule 144A under the U.S. Securities Act of 1933 (the "Securities Act")) and (ii) outside the United States to persons other than U.S. persons (as such terms are defined in Regulation S under the Securities Act) by way of private or public placement, in each case on a syndicated or non-syndicated basis.

An application has been made to the Luxembourg Stock Exchange for notes issued under the Program to be admitted to trading on the Luxembourg Stock Exchange's regulated market and to be listed on the Official List of the Luxembourg Stock Exchange.

These notes will not be and have not been registered under the Securities Act and have not and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements under the U.S. securities laws. This announcement does not constitute an offer to sell, or a solicitation of offer to purchase, securities in the United States.

INSTITUTIONAL BACKGROUND

As per the latest public records published by the Superintendency of Banks of Chile for December 2010, Banco Santander Chile was the largest bank in terms of assets, loans and equity. As of December 31, 2010, we had total assets of Ch$22,082,219 million (US$47.2 billion), loans net of allowances outstanding of Ch$15,215,318 million (US$32.5 billion), total deposits of Ch$11,495,191 million (US$24.6 billion) and shareholders' equity of Ch$1,831,798 million (US$3.9 billion). As of December 31, 2010, we employed 11,001 people and had the largest private branch network in Chile with 504 branches. Our headquarters are located in Santiago and we operate in every major region of Chile. The Bank's main shareholder is Santander (NYSE: STD), which controls 75.0% of Banco Santander Chile.  

For more information, see www.santander.cl

CONTACT INFORMATION

Robert Moreno

Manager, Investor Relations Department

Banco Santander Chile

Bandera 140 Piso 19

Santiago, Chile

Tel: (562) 320-8284

Fax: (562) 671-6554

Email: rmorenoh@santander.cl

Website:www.santander.cl

SOURCE Banco Santander Chile



RELATED LINKS

http://www.santander.cl