Chile's Codelco to start roadshow for $500 million fixed-rate bonds on Wednesday

By Reshmi Basu

New York, Oct. 17 - Corporacion Nacional de Cobre de Chile (Codelco) set price guidance for a $500 million offering of 30-year senior fixed-rate bonds (Aa3/A) at Treasuries plus the low 130 basis point range, according to a market source.

Deutsche Bank and HSBC are lead managers for the Rule 144A/Regulation S transaction.

The roadshow is scheduled to wrap up in New York on Wednesday.

Proceeds from the sale will be used for debt redemption and for capital expenditures.

On Sept. 16, 2005, Codelco placed $500 million of 30-year bonds at 98.167 with a 5 5/8% coupon to yield 5.754%, or 118 basis points more than Treasuries via Deutsche Bank and JP Morgan.

Santiago, Chile-based Codelco is a copper producer.

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