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Howard Kleinman, Brian Carmody and Lucila Pescarmona of Dechert LLP acted as US counsel to Chile-based Corp Group Banking S.A. in its $100 million private placement of 7.5% notes due 2014. Interest on the Notes will accrue at a rate of 7.5% per year. The five-year bonds were offered and sold outside the United States in reliance on Regulation S under the Securities Act of 1933, as amended. Corp Group Banking S.A. is a privately-owned Chilean company with a 50.86% ownership interest in CorpBanca, a publicly-traded commercial bank whose common stock is listed on the Santiago Stock Exchange and the Chilean Electronic Exchange, and whose American Depositary Receipts are listed on the New York Stock Exchange.
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