Rare Kaon Decays in the $1/N_c$-Expansion

We study the unknown coupling constants that appear at order $p^4$ in the Chiral Perturbation Theory analysis of $K \to \pi \gamma^* \to \pi l^+ l^-$, $K^{+-} \to \pi^{+-} \gamma \gamma$ and $K \to \pi \pi \gamma$ decays. To that end, we compute the chiral realization of the $\Delta S \, = \, 1$ Hamiltonian in the framework of the $1/N_c$-expansion of the low-energy action. The phenomenological implications are also discussed.