Macarena Ravinet and Rodrigo Stein

Cuatrecasas assists CMPC in $250m green bond placement

Cuatrecasas, through its team in Santiago de Chile, has assisted Inversiones CMPC and Empresas CMPC in the placement of a US$250 million corporate green bond with a maturity date of 15 September 2042.

The 20-year bond was obtained at an effective placement rate of 3.54% per annum with a spread of 0.94%, the lowest for a Chilean 20-year issuer since 2019. Thanks to this placement, CMPC totals more than US $2,200,000,000 in sustainable financing.

Macarena Ravinet, lead partner of the transaction, mentioned that “the proceeds from the placement will be used to refinance existing corporate bonds issued by the company and to finance projects with environmental benefits, such as the BioCMPC project, which includes significant reductions in greenhouse gas emissions and water use intensity”.

The issue, guaranteed by Empresas CMPC, was made under the Sustainable Finance framework published by the company in 2022, which is aligned with the requirements established in the Green Bond Principles, coordinated by the International Capital Market Association.

Cuatrecasas’ team was composed of partners Macarena Ravinet (pictured left) and Rodrigo Stein (pictured right), together with associate Isidora Opazo and lawyer Fernanda Paredes.

L Giselle Estrada