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Nachrichten May 17, 2019

Republic of Chile’s Offering of Euroclearable Local Bonds and Tender Offer

Shearman & Sterling represented Itau BBA USA Securities, Santander Investment Securities and Scotia Capital (USA) as initial purchasers in connection with an international offering by the Republic of Chile of Ps. 170.9 billion aggregate principal amount of its 4.0 percent bonds due March 1, 2023, Ps. 267.6 billion aggregate principal amount of its 4.7 percent bonds due September 1, 2030 and Ps. 22.1 billion aggregate principal amount of its 5.1 percent bonds due July 15, 2050.

Shearman & Sterling also represented Itau BBA USA Securities, Santander Investment Securities and Scotia Capital (USA) as dealer managers in a concurrent offer by the Republic to purchase for cash certain of its outstanding 4.5 percent bonds due February 28, 2021, 4.5 percent bonds due March 1, 2021 and SEC-registered peso-denominated 5.50 percent bonds due 2020 through Euroclear and Clearstream. This tender offer was the first offer made by Chile to holders of bonds governed by Chilean law held by investors outside of Chile.

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