BCI Looks to Markets to Fund US Buy

BCI Looks to Markets to Fund US Buy

Chile Europe M&A US

Banco de Credito e Inversiones (BCI) will look to issue shares or bonds after agreeing Friday to buy City National Bank of Florida in the US from Spain’s Bankia for $883m, it says. The Chilean bank calls the deal a “natural step in increasing business abroad,” and notes that it should close in the first quarter of 2014. City has $4.7bn in total assets, compared to BCI’s CLP17.57trn ($35.91bn). The buyer does not give any specifics as to the financing plans, but it has demonstrated access to the

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