CODELCO Issues $600 Million Formosa Bond

May 22, 2018

Cleary Gottlieb represented long-time client Corporación Nacional del Cobre de Chile (CODELCO), a Chilean state-owned company that is the world’s largest copper producer, in a $600 million Regulation S offering of 4.85 percent notes due 2048 listed in the Taipei Exchange.

The debt offering priced on April 30, 2018, and closed on May 18, 2018. HSBC Bank (Taiwan) Limited and BNP Paribas, Taipei Branch acted as joint book-running managers.

The transaction marked the first debut of a Chilean company into the Taiwanese bond market.