Codelco in $900 Million Offering

February 2, 2023

Cleary Gottlieb represented long-standing client Corporación Nacional del Cobre de Chile (Codelco) in its $900 million Rule 144A/Reg S debt offering of 5.125% notes due 2033.

The offering priced on January 30, 2023, and settled on February 2, 2023. The notes are expected to be listed on the Luxembourg Stock Exchange and traded on the Euro MTF market of the exchange.

BNP Paribas Securities Corp., BofA Securities Inc., Santander Investment Securities Inc., and Scotia Capital (USA) Inc. acted as initial purchasers.

Codelco is a Chilean state-owned company and the world’s largest copper producer.