The offering included rights to subscribe for new shares and ADSs

Davis Polk advised the global coordinators and bookrunner on an SEC-registered rights offering of 461,111,111,111 new shares of common stock of Itaú Corpbanca, including shares of common stock represented by ADSs, which raised proceeds of approximately $1 billion. The rights to subscribe for the new shares are traded on the Bolsa de Comercio de Santiago, Bolsa de Valores, or the Santiago Stock Exchange, and the Bolsa Electrónica de Chile, Bolsa de Valores, or the Chilean Electronic Stock Exchange. The rights to subscribe for new ADSs are traded on the New York Stock Exchange.

Itaú Corpbanca is a publicly traded bank organized under the laws of Chile. In addition to Chile, it has operations in Colombia and Panama, a branch in New York City and a representation office in Lima, Peru. Itaú Corpbanca provides a broad range of wholesale and retail banking services, as well as financial advisory services, asset management, insurance brokerage and securities brokerage services through its subsidiaries.

The Davis Polk corporate team included partner Maurice Blanco, counsel Alain Kuyumjian and associate Carlos Escandón. The tax team included counsel Alon Gurfinkel and associate Eitan Ulmer. Members of the Davis Polk team are based in the New York and London offices.

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