Cleary, Morales & Besa, PPU and Shearman advise on Chile bond offering
PPU and Shearman advised the initial purchasers while Chile instructed Cleary and Morales & Besa on concurrent peso-denominated offerings.
The transaction is part of a global offering of the 2023 bonds for a total aggregate amount Chilean peso 440 billion (around $677 444 240) and of the 2030 bonds for a total aggregate amount Chilean peso 610 billion (around $939 184 060) which were simultaneously offered and sold to the public in Chile pursuant to Chilean law and to investors outside of Chile pursuant to Rule 144A and Regulation S.
Itau BBA USA Securities, HSBC Securities (USA), and Scotia Capital (USA) were initial purchasers. For Chilean law counsel, the banks instructed a team at Philippi, Prietocarrizosa Ferrero DU & Uría led by partner Marcelo Armas. Shearman & Sterling advised the banks under international law.
The Republic of Chile instructed Cleary Gottlieb as US counsel and Morales & Besa as local counsel in Chile.
