Chile in €861 Million Green Debt Offering

July 2, 2019

Cleary Gottlieb represented the Republic of Chile (Chile) in a SEC-registered offering of €861 million 0.83% notes due 2031.

Joint lead managers and bookrunners for the 2031 notes were Crédit Agricole Corporate and Investment Bank, J.P. Morgan Securities plc, and Société Générale. The offering of the 2031 notes priced on June 25, 2019, and closed on July 2, 2019.

Chile announced that it intends to invest an amount equal to the proceeds from the sale of the 2031 notes into projects that may qualify as “eligible green expenditures” under Chile’s green bond framework, making this the second green debt offering by Chile.