International investors to gain unprecedented access to Chile through Euroclear - Depósito Central de Valores

International investors to gain unprecedented access to Chile through Euroclear
Cooperation between the Chilean local market and Euroclear to facilitate access for international investors to domestic debt Santiago and Brussels, 23 January 2017 - International investors will be able to access the domestic Chilean capital markets with increased ease, as of 1 February 2017. This was a result of a close cooperation between the Chilean Ministry of Finance and Euroclear to align Chile's post-trade processes with international standards. For the first time, Republic of Chile government bonds, denominated and payable in pesos have simultaneously been made available to domestic and international investors, in accordance with the financial integration agenda promoted by the Chilean government. The government bonds offered and sold to international investors representing approximately 20% of the global issuance, were settled through Euroclear Bank’s account in Deposito Central de Valores (DCV). Rodrigo Valdés, Minister of Finance of Chile stated: “Our partnership with Euroclear has yielded this important milestone for our capital markets. Being able to tap into the liquidity provided by international investors is tremendously important for the continued development of our local market. And, it should yield tangible benefits such as reducing the cost of borrowing, increasing liquidity in our local markets and furthering investment in our economy. By making our bonds Euroclearable, we have aligned our capital market infrastructure with the globally recognised standards that are synonymous with Euroclear’s robust, resilient and sound risk-management principles". Stephan Pouyat, Global Head of Capital Markets and Fund Services, Euroclear commented: “We are very pleased to be part of this watershed moment for the Chilean capital markets. The new regulatory framework, including the new tax treatment rule, enables Euroclear to extend its already well-developed Latin America offering and provide international investors with a simple, efficient and cost-effective way of accessing Chilean assets. This is the result of the strong partnership with the Ministry of Finance to align the needs of the Chilean market and those of international investors. A more robust financial environment supports the sustainable development of social and physical infrastructure in Chile.” Fernando Yañez, General Manager of Deposito Central de Valores added: “Chilean sovereign bonds becoming Euroclearable is good news for the market, and represents a successful relationship with Euroclear. We are confident that Euroclear's market participation will generate more demand for these bonds from international investors". About Euroclear Euroclear group is the financial industry’s trusted provider of post trade services. At the core, the group provides settlement, safe-keeping and servicing of domestic and cross-border securities for bonds, equities and derivatives to investment funds. Euroclear is a proven, resilient capital market infrastructure committed to delivering risk-mitigation, automation and efficiency at scale for its global client franchise. The Euroclear group includes Euroclear Bank - which is rated AA+ by Fitch Ratings and AA by Standard & Poor’s - as well as Euroclear Belgium, Euroclear Finland, Euroclear France, Euroclear Nederland, Euroclear Sweden and Euroclear UK & Ireland. The Euroclear group settled the equivalent of EUR 675 trillion in securities transactions in 2015, representing 191 million domestic and cross-border transactions. In the first half of 2016, the group held EUR 27 trillion in assets for clients. For more information about Euroclear, please visit www.euroclear.com. Acerca del Depósito Central de Valores (DCV) Deposito Central de Valores S.A. (DCV) is a corporation created in March 1993. DCV is the only central securities depository in Chile, and provides clearing, settlement and custody services for a wide range of instruments. The main instruments are publicly traded securities, bank bonds, certificates of deposit, mortgage bonds, public debts, corporate debts, debentures and Treasury bonds. DCV works primarily with banks, pension funds, life insurance companies and stock exchanges. DCV keeps 309 billion dollars in custody and it has 189 direct participants, which includes banks, brokers, pension funds, mutual funds and insurance companies. It has an A+ risk rating in accordance with the audit performed by Thomas Murray, a British firm specializing in risk ratings for entities that are part of the global capital market infrastructure For further information on DCV, please visit www.dcv.cl. Yours sincerely Depósito Central de Valores; Depósito de Valores S.A.

International investors to gain unprecedented access to Chile through Euroclear

Cooperation between the Chilean local market and Euroclear to facilitate access for international investors to domestic debt

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Santiago and Brussels, 23 January 2017 - International investors will be able to access the domestic Chilean capital markets with increased ease, as of 1 February 2017.

This was a result of a close cooperation between the Chilean Ministry of Finance and Euroclear to align Chile's post-trade processes with international standards.

For the first time, Republic of Chile government bonds, denominated and payable in pesos have simultaneously been made available to domestic and international investors, in accordance with the financial integration agenda promoted by the Chilean government.

The government bonds offered and sold to international investors representing approximately 20% of the global issuance, were settled through Euroclear Bank’s account in Deposito Central de Valores (DCV).

Rodrigo Valdés, Minister of Finance of Chile stated: “Our partnership with Euroclear has yielded this important milestone for our capital markets. Being able to tap into the liquidity provided by international investors is tremendously important for the continued development of our local market. And, it should yield tangible benefits such as reducing the cost of borrowing, increasing liquidity in our local markets and furthering investment in our economy.

By making our bonds Euroclearable, we have aligned our capital market infrastructure with the globally recognised standards that are synonymous with Euroclear’s robust, resilient and sound risk-management principles".

Stephan Pouyat, Global Head of Capital Markets and Fund Services, Euroclear commented: “We are very pleased to be part of this watershed moment for the Chilean capital markets. The new regulatory framework, including the new tax treatment rule, enables Euroclear to extend its already well-developed Latin America offering and provide international investors with a simple, efficient and cost-effective way of accessing Chilean assets. This is the result of the strong partnership with the Ministry of Finance to align the needs of the Chilean market and those of international investors. A more robust financial environment supports the sustainable development of social and physical infrastructure in Chile.”

Fernando Yañez, General Manager of Deposito Central de Valores added: “Chilean sovereign bonds becoming Euroclearable is good news for the market, and represents a successful relationship with Euroclear. We are confident that Euroclear's market participation will generate more demand for these bonds from international investors".

About Euroclear

Euroclear group is the financial industry’s trusted provider of post trade services. At the core, the group provides settlement, safe-keeping and servicing of domestic and cross-border securities for bonds, equities and derivatives to investment funds. Euroclear is a proven, resilient capital market infrastructure committed to delivering risk-mitigation, automation and efficiency at scale for its global client franchise.

The Euroclear group includes Euroclear Bank - which is rated AA+ by Fitch Ratings and AA by Standard & Poor’s - as well as Euroclear Belgium, Euroclear Finland, Euroclear France, Euroclear Nederland, Euroclear Sweden and Euroclear UK & Ireland. The Euroclear group settled the equivalent of EUR 675 trillion in securities transactions in 2015, representing 191 million domestic and cross-border transactions. In the first half of 2016, the group held EUR 27 trillion in assets for clients.

For more information about Euroclear, please visit www.euroclear.com.

Acerca del Depósito Central de Valores (DCV)

Deposito Central de Valores S.A. (DCV) is a corporation created in March 1993. DCV is the only central securities depository in Chile, and provides clearing, settlement and custody services for a wide range of instruments. The main instruments are publicly traded securities, bank bonds, certificates of deposit, mortgage bonds, public debts, corporate debts, debentures and Treasury bonds. DCV works primarily with banks, pension funds, life insurance companies and stock exchanges. DCV keeps 309 billion dollars in custody and it has 189 direct participants, which includes banks, brokers, pension funds, mutual funds and insurance companies. It has an A+ risk rating in accordance with the audit performed by Thomas Murray, a British firm specializing in risk ratings for entities that are part of the global capital market infrastructure

For further information on DCV, please visit www.dcv.cl.

Yours sincerely

Depósito Central de Valores; Depósito de Valores S.A.

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