CAP in $300 Million Offering

April 27, 2021

Cleary Gottlieb represented CAP S.A. (CAP) in a bond offering of $300 million 3.9% senior notes due 2031.

Bank of America Securities and J.P. Morgan acted as initial purchasers. The offering is being conducted as a private placement under Rule 144A of the Securities Act of 1933 and outside of the United States in reliance on Regulation S. The issuance priced on April 22, 2021, and closed on April 27, 2021.

This issuance marks the first time CAP issued New York law-governed bonds in the international capital markets since 2006.

CAP is the largest iron mining company in Chile and the largest producer of steel in Chile, with an integrated ferrous metals operation that leverages its strong presence in the iron ore industry to also offer a wide range of innovative steel products for growing economies around the world.