New Issue: Chile sells $750 million 2.55% notes, $900 million add-on to 3½% notes

Chicago, Jan. 23 – The Republic of Chile priced $750 million 2.55% notes due Jan. 27, 2032 and a $900 million tap of its outstanding 3½% notes due Jan. 25, 2050 (A1/A+/A), according to FWP filings with the Securities and Exchange Commission.

The new issue of $750 million notes priced at 99.784 to yield 2.571%, or 80 basis points over Treasuries.

The reopening of the 3½% notes due 2050 priced at 104.277 for a yield of 3.275%, or a spread of 105 bps over Treasuries.

The reopened notes will be fungible with the $1,418,357,000 issue from June 25, 2019. The total principal amount outstanding with the tap will be $2,318,357,000.

Joint bookrunners are Credit Agricole Securities (USA) Inc., HSBC Securities (USA) Inc. and J.P. Morgan Securities LLC.

On Jan. 21, Chile also sold €1,269,017,000 of 1¼% notes due 2040 and €693,685,000 of 0.83% notes due 2031.

An application is being made to list the notes on the London Stock Exchange.

Issuer:	Republic of Chile
Amount:	$1.65 billion
Bookrunners:	Credit Agricole Securities (USA) Inc., HSBC Securities (USA) Inc. and J.P. Morgan Securities LLC
Pricing date:	Jan. 22
Settlement date:	Jan. 27
Ratings:	Moody’s: A1
	S&P: A+
	Fitch: A
Distribution:	SEC registered
Notes due 2032
Amount:	$750 million
Maturity:	Jan. 27, 2032
Coupon:	2.55%
Price:	99.784
Yield	2.571%
Spread:	80 bps over Treasuries
Notes due 2050
Amount:	$900 million add-on
Maturity:	Jan. 25, 2050
Coupon:	3½%
Price:	104.277
Yield:	3.275%
Spread:	105 bps over Treasuries
Original issue:	$1,418,357,000 issued on June 25, 2019
Total issue:	$2,318,357,000

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.