Shearman & Sterling Advises on Republic of Chile’s Notes Offerings and “Switch” Tender Offer
Shearman & Sterling represented Citigroup Global Markets Inc., Goldman Sachs & Co. LLC, HSBC Securities (USA) Inc. and J.P. Morgan Securities LLC as underwriters in the Republic of Chile’s issuance of US$1,541,831,000, 3.860% notes due 2047 and €700,000,000, 1.875% notes due 2030. The offerings were made in an SEC-registered transaction and occurred contemporaneously with a “switch tender” invitation to holders of specified outstanding series of Chile’s notes, whereby such holders were offered the right to purchase these notes, with preference given to holders who agreed to purchase Chile’s new notes.
The Shearman & Sterling team included partner Stuart Fleischmann
(New York – Capital Markets); counsel Grissel Mercado
(New York – Capital Markets); associate Flavio Averbug (New York – Capital Markets); and visiting attorney Alesandra Azcarate (New York – Capital Markets).