Nachrichten Jan 30, 2020

The Republic of Chile’s €1.963 Billion Green Bonds and Tender Offer

Shearman & Sterling represented Banco Santander – London Branch, BNP Paribas and Société Générale, as underwriters, in connection with the SEC-registered offering by the Republic of Chile of €1.27 billion aggregate principal amount of its 1.250 percent notes due 2040 and an additional €693.7 million aggregate principal amount of its existing 0.830 percent notes due 2031.

Concurrently, the Republic purchased for cash certain of its outstanding 1.625 percent notes due 2025, 1.750 percent notes due 2026, 1.440 percent notes due 2029 and 1.875 percent notes due 2030 for a total aggregate principal amount of €469 million through Banco Santander – London Branch, BNP Paribas and Société Générale, as dealer managers, which Shearman & Sterling also represented.

The Republic intends to invest an amount equal to the proceeds from the sale of the notes into projects that may qualify as “eligible green expenditures” under its Green Bond Framework.

The Shearman & Sterling team below included visiting attorney Miguel Torres Caro.

The Team