Chile’s €1.65 Billion Debt Offering
January 22, 2021
Cleary Gottlieb represented BNP Paribas, Citigroup Global Markets Limited, HSBC Securities (USA) Inc., J.P. Morgan Securities plc, and Banco Santander S.A., as underwriters, in the Republic of Chile’s (Chile) SEC-registered offering of €400 million 0.83% bonds due 2031 and €1.25 billion 1.25% bonds due 2051.
The 2031 notes constitute a further issuance of, and are consolidated, form a single series, and are fully fungible with Chile’s 0.83% notes due 2031 issued in an aggregate principal amount of €861 million on July 2, 2019, and €693.69 billion on January 29, 2020. The offering of the notes priced on January 19, 2021, and closed on January 22, 2021.
Chile intends to invest the proceeds from the sale of the 2031 notes into projects that may qualify as “eligible green expenditures” and the proceeds from the sale of the 2051 notes into projects that may qualify as “eligible social expenditures”, in each case, under Chile’s sustainable bond framework.