CORPBANCA Issues 5-Year Bonds in Chile

 | Source: Corp Banca Corp Banca

SANTIAGO, CHILE--(Marketwire - August 2, 2007) - CORPBANCA (NYSE: BCA), a Chilean financial institution offering a wide variety of corporate and retail financial products and services across all segments of the Chilean financial market, announced today the issuance and sale of U.F. 2,000,000 (approximately U.S.$72.5 million) of 5-year bonds due July 1, 2012. U.F. (U.F. -unidad de fomento) is a Chilean currency intangible unit that periodically adjusts to reflect inflation in Chile). The bonds were sold on the Santiago Stock Exchange in an offshore transaction outside the United States in reliance on Regulation S under the Securities Act.

The proceeds of this bond issuance will be used to finance our normal business activities and improve our balance sheet structure. The bonds which were sold on July 25, 2007 were structured by CORPBANCA Asesorias Financieras S.A. and were sold at a spread of 62 basis points over the five-year U.F. denominated bonds issued by Chile's Central Bank. 

The principal terms of the bonds are:

Principal Amount:                       U.F. 2,000,000

Series:                                 K

Currency:                               Unidad de Fomento, or U.F.
                                        As of July 25, 2007,
                                        1.00 U.F. was equal to 18,744.11
                                        Chilean Pesos and US$ 36.23.

Maturity:                               5 years

Early Redemption:                       Not applicable

Interest Accrual:                       July 1, 2007

Interest Rate:                          3.2000% per annum, compounded
                                        semi-annually equal to 1.5874%
                                        semi-annually

Interest periods:                       Semi-annual

Amortization:                           Bullet Bond due at July 1, 2012

Feller-Rate Risk Rating Agency(1) (2):  AA-

Fitch Ratings(2) :                      AA-

(1) Feller-rate Risk Agency is a Chilean rating agency
(2) These ratings refer to the specific bond issue and not to CORPBANCA
    in general

FORWARD-LOOKING STATEMENTS:

This press release may contain forward-looking statements that involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of CORPBANCA to be materially different from the results, performance or achievements expressed or implied by these forward-looking statements.

Contact Information: CORPBANCA Contact: Pablo Mejia Ricci Head of Investor Relations Santiago, Chile Tel: (56 - 2) 660-2342 pablo.mejia@corpbanca.cl Capital Link Contact: Nicolas Bornozis President New York, USA Tel: (212) 4771-1121 bornozis@capitallink.com

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