Banco Santander Chile has raised $500 million in a sale of senior unsecured notes in the 144a private placement market. The Chilean lender appointed JP Morgan and Banco Santander as the joint bookrunning managers for the deal.

The notes carry a coupon rate of 2.875 percent and are due to mature on Jan. 19, 2016. The bank intends to use the proceeds from the private offering to fund its lending activities.

Click here for the release from PR Newswire.