Chile’s $2.25 Billion Debt Offering

Cleary Gottlieb represented BNP Paribas Securities Corp., Citigroup Global Markets Inc., HSBC Securities (USA) Inc., J.P. Morgan Securities LLC, and Santander Investment Securities Inc., as underwriters, in the Republic of Chile’s (Chile) SEC-registered offering of $750 million 2.55% bonds due 2032 and $1.5 billion 3.1% bonds due 2061.

The 2032 notes constitute a further issuance of, and are consolidated, form a single series, and are fully fungible with Chile’s outstanding 2.55% bonds due 2032 issued in an aggregate principal amount of $750 million on January 27, 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 2032 notes into projects that may qualify as “eligible green expenditures” and the proceeds from the sale of the 2061 notes into projects that may qualify as “eligible social expenditures,” in each case, under Chile’s sustainable bond framework.