PPU assists in CODELCO bond issue

PPU Chile has advised BofA Securities, BNP Paribas Securities, J.P. Morgan Securities and Santander Investment Securities on bond issuance by CODELCO

 Philippi Prietocarrizosa Ferrero DU & Uría has assisted BofA Securities Inc, BNP Paribas Securities Corp, J.P. Morgan Securities LLC and Santander Investment Securities Inc. as representatives of the initial purchasers in CODELCO’s $780,000,000 aggregate principal amount of 3.700% Notes due 2050.

This transaction was closed on 22 October with Carey acting as local counsel to CODELCO, Davis Polk as NY counsel to the representatives and Cleary Gottlieb Steen & Hamilton LLP as NY counsel to CODELCO.

Corporación Nacional del Cobre de Chile better known as Codelco is a Chilean state-owned copper mining company. Codelco operates eight work centres, located between the Antofagasta region and the Libertador General Bernardo O’Higgins region. The head office is located in Santiago. Codelco is the world’s largest copper producer.

PPU’s team was led by partner Marcelo Armas (pictured left), assisted by associates Daniel Parodi (pictured top right), María Jesús Ibáñez (pictured middle right) and Macarena Soto (pictured bottom right).