Chile in $1.5 Billion Debt Offering

October 30, 2012

Cleary Gottlieb represented the Republic of Chile in a $1.5 billion offering, comprised of $750 million 2.250% Notes due 2022 and $750 million 3.625% Notes due 2042. The transaction gave Chile the lowest cost of financing in its history, and resulted in the lowest interest rate ever obtained by a Latin American sovereign issuer. Joint lead managers and bookrunners for the transaction were Bank of America Merrill Lynch, HSBC and J.P. Morgan. The deal closed on October 30.