Cleary acts on $1.6bn and €1.7bn Chile offering
Cleary Gottlieb acted as counsel to the underwriters, BNP Paribas, Citi, HSBC and J.P. Morgan, in the Republic of Chile’s (Chile) SEC-registered offering of US$1.6 billion denominated in US dollars at 5.65% due 2037 (the USD Notes) and €1.7 billion denominated in euros at 3.75% due 2032 (the Euro Notes).
The offers for the USD Notes and the Euro Notes were launched and priced on 7 January 2025, and are expected to close on 13 January 2025 and 14 January 2025, respectively.
Chile intends to invest an amount equal to the net proceeds from the sale of the Eurobonds to finance budgetary programmes that qualify as ‘eligible social expenditures’ under its sustainable bond framework.
Cleary’s team included partner Jorge Juantorena (pictured), associates Ignacio Lagos, Rodrigo Lopez Lapeña, and Juan Ignacio Leguizamo, and international lawyer Micaela Mingramm. Partner Jason Factor, associate Daniel Solecki, and law clerk Banu Dzhafarova advised on New York tax matters. All lawyers are based in New York.
