CAP’s $300 Million Notes Offering

Cleary Gottlieb represented CAP S.A. in the offering.

CAP S.A. executed a bond offering of $300 million 3.900% senior notes due 2031. Bank of America Securities and J.P. Morgan acted as initial purchasers. The offering is being conducted as a private placement under Rule 144A of the Securities Act of 1933 and outside of the United States in reliance on Regulation S. The issuance priced on April 22, 2021 and closed on April 27, 2021.

CAP S.A. is the largest iron mining company in Chile and the largest producer of steel in Chile, with an integrated ferrous metals operation that leverages its strong presence in the iron ore industry to also offer a wide range of innovative steel products for growing economies around the world. This issuance marks the first time CAP S.A. issued New York law-governed bonds in the international capital markets since 2006.

The Cleary corporate team advising CAP included partner Adam Brenneman (Picture), associates Antonio Pietrantoni and Ashley Miller, and international lawyer Carla Cardoza Vidal. Partner Jason Factor and associate Zhiyuan Zuo advised on tax matters. 

Involved fees earner: Adam Brenneman – Cleary Gottlieb Steen & Hamilton; Carla Cardoza Vidal – Cleary Gottlieb Steen & Hamilton; Jason Factor – Cleary Gottlieb Steen & Hamilton; Ashley Miller – Cleary Gottlieb Steen & Hamilton; Antonio Pietrantoni – Cleary Gottlieb Steen & Hamilton; Zhiyuan Zuo – Cleary Gottlieb Steen & Hamilton;

Law Firms: Cleary Gottlieb Steen & Hamilton;

Clients: CAP S.A.;

Author: Martina Bellini