Chile’s Largest Iron and Steel Producer in $200 Million Bond Offering

November 8, 2006

Cleary Gottlieb represented Chile’s largest iron and steel producer, CAP S.A., in its debut in the international capital markets, a $200 million Rule 144A/Regulation S offering of its 30-year bonds. CAP subsidiaries, Compañía Minera del Pacífico S.A. and Compañía Siderúrgica Huachipato S.A., guaranteed the 7.375% bonds due 2036, which are listed on the Luxembourg Stock Exchange. Citigroup Global Markets Inc. and HSBC Securities (USA) Inc. were the initial purchasers of the bonds.