By Christine Van Dusen
Atlanta, July 11 - Corporacion Nacional del Cobre de Chile (Codelco) priced $2 billion of notes due 2022 and 2042 (A1/A/), a market source said.
The deal included $1.25 billion 3% notes due July 17, 2022 at 98.663 to yield 3.157%, or Treasuries plus 165 basis points. The second tranche totaled $750 million 4¼% notes due July 17, 2042 that priced at 97.547 to yield 4.398%, or Treasuries plus 180 bps.
HSBC and JPMorgan were the bookrunners for the Rule 144A and Regulation S deal.
Codelco is a Santiago, Chile-based copper mining company.
| Issuer: | Corporacion Nacional del Cobre de Chile (Codelco)
|
| Amount: | $2 billion
|
| Description: | Notes
|
| Bookrunners: | HSBC, JPMorgan
|
| Trade date: | July 10
|
| Settlement date: | July 17
|
| Ratings: | Moody's: A1
|
| Standard & Poor's: A
|
| Distribution: | Rule 144A and Regulation S
|
|
|
| 10-year notes
|
| Amount: | $1.25 billion
|
| Maturity: | July 17, 2022
|
| Coupon: | 3%
|
| Price: | 98.663
|
| Yield: | 3.157%
|
| Spread: | Treasuries plus 165 bps
|
|
|
| 30-year notes
|
| Amount: | $750 million
|
| Maturity: | July 17, 2042
|
| Coupon: | 4¼%
|
| Price: | 97.547
|
| Yield: | 4.398%
|
| Spread: | Treasuries plus 180 bps
|
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