Chile’s Inaugural $1.5 Billion Green and Social Bond Offering

April 15, 2021

Cleary Gottlieb represented Crédit Agricole CIB, Taipei Branch, and Goldman Sachs (Asia) L.L.C., as underwriters, and Merrill Lynch International, as structuring agent, in the Republic of Chile’s (Chile) SEC-registered offering of $1.5 billion 3.5% bonds due 2053.

The offering of the notes priced on March 30, 2021, and closed on April 15, 2021.

The bonds are listed on the London Stock Exchange and on the Taipei Exchange, marking Chile’s debut in the Taiwanese bond market. Chile intends to invest an amount equal to the proceeds from the sale of the 2053 bonds on projects that may qualify as “eligible green expenditures” and “eligible social expenditures” under Chile’s sustainable bond framework.