Cleary Gottlieb represented BNP Paribas Securities Corp., Citigroup Global Markets Inc., Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC, Santander Investment Securities Inc., and Scotia Capital (USA) Inc., as underwriters, in the Republic of Chile’s (Chile) SEC-registered offering of $2.25 billion 2.55% bonds due 2033, $1 billion 3.1% bonds due 2041, and $500 million 3.1% bonds due 2061.
The 2041 notes constitute a further issuance of, and are consolidated, form a single series and are fully fungible with Chile’s outstanding 3.1% bonds due 2041 issued in an aggregate principal amount of $1.7 billion on May 7, 2021. The 2061 notes constitute a further issuance of, and are consolidated, form a single series, and are fully fungible with Chile’s outstanding 3.1% bonds due 2061 issued in an aggregate principal amount of $1.5 billion on January 22, 2021.
The offering of the notes priced on July 22, 2021, and closed on July 27, 2021.
Chile intends to invest the proceeds from the sale of the notes into projects that may qualify as “eligible social expenditures” under Chile’s sustainable bond framework.