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Published on 6/25/2019 in the Prospect News Emerging Markets Daily and Prospect News Green Finance Daily.

New Issue: Chile prices €861 million of 12-year notes at par to yield 0.83%

By Sarah Lizee

Olympia, Wash., June 25 – Chile priced €861 million of global notes due 2031 (expected ratings: A1/A+/A) at par to yield 0.83%, or mid-swaps plus 50 basis points, according to an FWP filing with the Securities and Exchange Commission on Tuesday.

The joint lead managers and bookrunners are Credit Agricole CIB, JPMorgan Securities plc and Societe Generale.

The notes will be callable at any time on or after April 2, 2031 in whole or in part at par plus accrued interest and additional amounts, if any, up to but excluding the redemption date.

Proceeds will be used for general government purposes. Chile will invest an amount equal to the proceeds into projects that may qualify as eligible green expenditures under its Green Bond Framework.

Last week, Chile also priced $1.42 billion of 3˝% global notes due at 99.439 to yield 3.53%, or Treasuries plus 95 bps, according to an FWP filing with the SEC.

The joint lead managers and bookrunners of that green deal were BNP Paribas Securities Corp., Citigroup Global Markets Inc. and HSBC Securities (USA) Inc.

Issuer:Chile
Description:Global notes
Amount:€861 million
Maturity:July 2, 2031
Bookrunners:Credit Agricole CIB, JPMorgan Securities plc and Societe Generale
Coupon:0.83%
Price:Par
Yield:0.83%
Spread:Mid-swaps plus 50 bps
Call:Callable at any time on or after April 2, 2031 in whole or in part at par plus accrued interest and additional amounts, if any
Trade date:June 25
Settlement date:July 2
Expected ratings:Moody’s: A1
S&P: A+
Fitch: A
Distribution:SEC registered

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