We advised Banco Santander on the offering

Davis Polk advised Banco Santander-Chile in connection with its sale of $700 million aggregate principal amount of its 8.000% perpetual permanent write-down non-cumulative additional Tier 1 capital notes to Banco Santander, S.A., its parent company.

Banco Santander Chile is the largest bank in Chile in terms of loans, and the second largest in terms of total deposits, with operations in commercial banking, retail banking, brokerage and insurance. Banco Santander Chile is a member of the Santander Group, the principal financial group in Spain and one of the largest financial groups in the world in terms of market capitalization.

The Davis Polk capital markets team included partner Pedro J. Bermeo and associates Agustin N. Lopez Roualdes and Diego Tomas Jimenez Juri. All members of the Davis Polk team are based in the New York office.

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