PPU advised initial purchasers on Arauco $900 million offering

Philippi Prietocarrizosa Ferrero DU & Uría acted for JP Morgan Securities and Merrill Lynch, the representatives of the initial purchasers on the dual offering by Arauco.

Celulosa Arauco y Constitución is a Chilean wood pulp, engineered wood and forestry company.

The transaction included the issuance of $500 million aggregate principal amount of the issuer’s 3.875% notes due 2027 as well as $400 million aggregate principal amount of its 5.500% notes due 2047.

Partner Marcelo Armas led the PPU team advising the banks.

Arauco instructed Portaluppi, Guzmán y Bezanilla in Chile and Simpson Thacher & Barlett in NY.

Ignacio Abella