22 1月 2021
Linklaters advises the Republic of Chile on landmark green and social bond offering
The series of ESG bonds includes the largest sustainability bond issued by a Latin American sovereign
Linklaters has advised the Republic of Chile on the offering of dollar- and euro-denominated social and green bonds totaling approximately US$4.25bn. The momentous deal was comprised of four series of bonds, €400m 0.830% notes due 2031, €1.25bn 1.250 % notes due 2051, US$750m 2.550% notes due 2032 and US$1.50bn 3.100% notes due 2061.
The 30-year euro bonds are the longest-dated bonds ever issued in euros by the Republic and represents Latin America’s largest foreign currency social bond from a sovereign. Historically low interest rates were achieved for the dollar and euro bonds maturing in 2031 and 2032.
The strong issuance highlights the demand from investors with dedicated environmental, social, and governance (ESG) mandates.
The Linklaters team was led by partner Conrado Tenaglia, alongside counsel Alejandro Gordano, Counsel Matthew Brigham (Tax), associate Matthew Russo (Tax) and foreign attorney Monica Perez-Banuet Farell.
Linklaters has been at the forefront of the growth in the green bonds market, advising on some of the leading offerings in recent years. This has included the first sovereign green bond issuance in the Middle East and North Africa region, Ukraine’s first-ever green bond issuance, and the world’s first green convertible bond in the real estate sector among many others. Linklaters also recently advised on Europe’s first sovereign sustainability bond.
The 30-year euro bonds are the longest-dated bonds ever issued in euros by the Republic and represents Latin America’s largest foreign currency social bond from a sovereign. Historically low interest rates were achieved for the dollar and euro bonds maturing in 2031 and 2032.
The strong issuance highlights the demand from investors with dedicated environmental, social, and governance (ESG) mandates.
The Linklaters team was led by partner Conrado Tenaglia, alongside counsel Alejandro Gordano, Counsel Matthew Brigham (Tax), associate Matthew Russo (Tax) and foreign attorney Monica Perez-Banuet Farell.
Linklaters has been at the forefront of the growth in the green bonds market, advising on some of the leading offerings in recent years. This has included the first sovereign green bond issuance in the Middle East and North Africa region, Ukraine’s first-ever green bond issuance, and the world’s first green convertible bond in the real estate sector among many others. Linklaters also recently advised on Europe’s first sovereign sustainability bond.
Linklaters’ green and social bond experience spans its Latin American, North American, European, and Asian offices and draws on the support of the firm’s market-leading practices.