According to the media, Linklaters has advised the Republic of Chile on the Securities and Exchange Commission (SEC)-registered offering of dollar-denominated bonds totalling $2.0 billion. The historic deal included two series bonds, $300 million 2.450 percent notes due 2031 and $1.7 billion 3.100 percent notes due 2041.
The notes due 2031 are an issuance of the Republic of Chile’s outstanding 2.450 percent due 2031 issued in an aggregate principal amount of $1.45 billion on 12 May 2020. The nation has plans to use the proceeds from the sale of the notes due 2031 for the government’s general purposes. The sale of notes due 2041 for the projects that qualify as eligible social expenditures.
The demand from investors with dedicated environmental, social and governance (ESG) mandates are said to be highlighted in the strong issuance. Linklaters has led the nation towards the growth in the green bonds market and advising on essential offerings in recent years.
This team was led by partner Conrado Tenaglia and counsel Alejandro Gordano, alongside counsel Matthew Brigham of tax)and foreign attorneys Monica Perez-Banuet Farell and Juan Mata. This includes the first-ever sovereign green bond issuance in North Africa and the Middle East region. It also includes Ukraine’s first green bond issuance and the world’s first green convertible bond in the real estate market, among many others. The firm has also recently provided advice on Europe’s first sovereign sustainability bond. Its experience on green and social bonds expands to Latin American, North American, European and Asian offices and is supported by the market-leading practice of the firm.