PPU acts for purchasers in $1bn Codelco issuance
Philippi Prietocarrizosa Ferrero DU & Uría (PPU) has advised a group of banks on a $1 billion notes issuance by Chile’s national copper corporation (Codelco).
The banks acting as initial purchasers were BofA Securities, HSBC Securities, JP Morgan Securities and Scotia Capital.
The issuance comprised a $1 billion aggregate principal amount of 3.150 per cent notes due 2030, and $1 billion aggregate principal amount of its 3.700 per cent notes due 2050, representing an additional issuance of the company’s outstanding 3.700 per cent notes due 2050.
PPU’s team was led by partners Marcelo Armas (pictured) and Marcela Silva, with associates Daniel Parodi, Santiago Mesías, Macarena Soto and Vera Yacher.
Davis Polk & Wardwell acted as US counsel to the initial purchasers, Cleary Gottlieb Steen & Hamilton as US counsel to the issuer, and Carey acted as Chilean counsel to the issuer.
