Linklaters advises The Republic of Chile on first international offering of Euroclearable peso-denominated sustainable bonds

Linklaters has advised the Republic of Chile on the international offering of its peso-denominated notes due 2034, issuing CLP1 trillion (US$1.02 billion), through a book-building process, with simultaneous offerings in local and international markets. The notes carry a coupon of 7.00% and priced at 101.2273% to yield 6.95%. Orders peaked at US$3.5 billion, showing the interest of the national and international financial markets in peso-denominated debt issued by the Republic of Chile.

The proceeds from the sale of the notes will fund budgetary programs that qualify as “eligible green expenditures” and “eligible social expenditures” under the Sustainable Bond Framework.

The Linklaters team was led by partner Conrado Tenaglia and counsel Alejandro Gordano, alongside Counsel Gabriel Grossman (Tax) and associate Matthew Russo (Tax), and foreign attorneys Loreto Joannon and Manuel Jose Eyzaguirre.

Linklaters previously advised the Republic of Chile on the issuance of sustainable bonds in dollars in January, raising US$4 billion in a three-part deal to fund green and social projects, and in March, with the first issuance of sustainability-linked bonds by a sovereign worldwide, raising US$2 billion.

Linklaters continues to be at the forefront of the growth in the green, social, sustainable and sustainability-linked bonds market and its experience spans its Latin American, North American, European, and Asian offices and draws on the support of the firm’s market-leading practices.