Banvida shapes share sale

Banvida shapes share sale

Equity Capital Markets Corporate & Sovereign Strategy Loans M&A Chile Andean

Chilean financial services company Banvida plans to sell new shares to raise CLP34 billion ($41.9 million) to cover short-term debt from a recent acquisition, according to documents filed with the securities regulator CMF. Banvida intends to sell 142 million shares and use the money to pay back a loan it got from Banchile last year to finance the purchase of shares in Consorcio Financiero, a financial holding company in which it is a leading shareholder with a 42% stake.Banvida, controlled by th

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