Chile in €500 Million Offering

May 12, 2020

Cleary Gottlieb represented the Republic of Chile (Chile) in a SEC-registered offering of €500 million 1.625% notes due 2025.

The 2025 notes constitute a further issuance of, are consolidated, form a single series, and are fully fungible with Chile’s outstanding 1.625% notes due 2025 issued in an aggregate principal amount of €800 million on December 12, 2014, and €440 million on May 27, 2015.

Citigroup Global Markets Limited, Itau BBA USA Securities Inc., and Scotiabank Europe plc acted as joint lead managers and bookrunners for the offering. The offering of the notes priced on May 5, 2020, and closed on May 12, 2020.

Chile intends to invest an amount equal to the proceeds from the sale of the notes for general purposes of the government, including to partially fund its COVID-19 relief and recovery efforts.