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ARTICLE · 14 AUGUST 2017

Codelco Issues Bonds in the International Market

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Cleary Gottlieb Steen & Hamilton LLP in New York and Careyhave helped the world's largest copper producer, Corporación Nacional del Cobre de Chile (Codelco), issue bonds worth US$2.75 billion.

ChileCorporate/Commercial Law
Originally Published By Latin Lawyer
Originally Published By Latin Lawyer

Cleary Gottlieb Steen & Hamilton LLP in New York and Careyhave helped the world's largest copper producer, Corporación Nacional del Cobre de Chile (Codelco), issue bonds worth US$2.75 billion.

HSBC, JP Morgan Securities, Merrill Lynch, Pierce, Fenner & Smith and MUFG Securities Americas were underwriters and turned to Davis Polk and Wardwell LLP in New York and Philippi Prietocarrizosa Ferrero DU & Uría (Chile).

The offering closed on 1 August.

Cleary also advised Codelco in two concurrent cash tender offers using the proceeds of the debt offering.

Codelco is Chile's state-owned copper miner and controls an estimated 7% of the world's proven and probable copper reserves.

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