Banco Santander Chile Grants the Largest Loan in its History

SANTIAGO, Chile, July 10, 2012 /PRNewswire/ -- Banco Santander Chile (NYSE: BSAC) granted the largest loan in its history, Ch$390 billion or approximately US$800 million to Inversiones Air Products Holding Ltda for the acquisition of a controlling stake in the Chilean company Indura S.A.

This loan operation, in which Santander Chile was sole lender, was the result of the joint teamwork of Santander's teams in Chile, New York, London and Madrid.

"A loan operation of this size and in these market conditions reflects our strong business model, as well as the financial the strength and innovativeness of the Bank. This is a direct reflection of our solid levels level of liquidity and capital" stated Fred Meller Managing Director of Santander Global Banking and Markets at Santander Chile.

As per the latest public records published by the Superintendency of Banks of Chile for March 2012, Banco Santander Chile was the largest bank in terms of loans and equity. The Bank has among the highest credit ratings among all Latin American companies, with an A+ rating from Fitch, A from Standard and Poor's and Aa3 by Moody's. The stock is traded on the New York Stock Exchange (NYSE: BSAC) and the Santiago Stock Exchange (SSE: Bsantander). The Bank's main shareholder is Santander, which controls 67% of Banco Santander Chile.  

For more information see www.santander.cl

SOURCE Banco Santander Chile