Empresa de Transporte de Pasajeros Metro S.A.’s $500 Million Notes Offering


Cariola, Díez, Pérez-Cotapos & Cía., White & Case, Claro & Cía. and Davis Polk & Wardwell have advised on the transaction

Empresa de Transporte de Pasajeros Metro S.A. (Metro de Santiago) issued $500 million aggregate principal amount of its 5.000% notes due 2047. The notes were sold in an offering exempt from registration pursuant to Rule 144A and Regulation S.

J.P. Morgan Securites LLC and Merrill Lynch, Pierce, Fenner & Smith Incorporated acted as Initial Purchasers.

Metro de Santiago is 100% owned by the Government of Chile and is the sole operator of the subway system in the metropolitan region of Santiago, Chile.

Cariola, Díez, Pérez-Cotapos & Cía. Ltda. has advised Transporte de Pasajeros Metro S.A. with Rodrigo Sepúlveda, Sergio Balharry, Javier Cerón, Bárbara Zlatar, José Antonio Valenzuela and Pelayo Vial.

In New York and Miami, White & Case LLP has advised Transporte de Pasajeros Metro S.A. with John Vetterli and Carlos Viana.

Davis Polk advised the initial purchasers with Maurice Blanco (PIcture) and counsel Katia Brener. Partner David H. Schnabel and associate Elina Khodorkovsky. All members of the Davis Polk team are based in the New York office.

In Chile, Claro & Cía. has advised the Initial Purchasers with José Luis Ambrosy and Josefina Ayala.

Involved fees earner: Rodrigo Sepúlveda – Cariola, Díez, Pérez-Cotapos & Cía Ltda; José Antonio Valenzuela – Cariola, Díez, Pérez-Cotapos & Cía Ltda; Javier Cerón – Cariola, Díez, Pérez-Cotapos & Cía Ltda; Pelayo Vial – Cariola, Díez, Pérez-Cotapos & Cía Ltda; Bárbara Zlatar – Cariola, Díez, Pérez-Cotapos & Cía Ltda; Maurice Blanco – Davis Polk & Wardwell; Katia Brener – Davis Polk & Wardwell; Elina Khodorkovsky – Davis Polk & Wardwell; David Schnabel – Davis Polk & Wardwell; José Luis Ambrosy – Claro y Cia; Josefina Ayala – Claro y Cia; Carlos Viana – White & Case; John Vetterli – White & Case;

Law Firms: Cariola, Díez, Pérez-Cotapos & Cía Ltda; Davis Polk & Wardwell; Claro y Cia; White & Case;

Clients: Merrill Lynch, Pierce, Fenner & Smith Incorporated; JP Morgan Securities; Empresa de Transporte de Pasajeros Metro S.A.;