Republic of Chile’s Euro- and Dollar-Denominated Social Bond Offerings

Linklaters and Morales & Besa advised the Republic of Chile. Cleary Gottlieb Steeen & Hamilton and Garrigues advised the underwriters.

The SEC-registered offerings of euro- and dollar-denominated social bonds totaled approximately US$5.8bn.

The landmark deal was comprised of two new series euro-denominated social bonds: €1.0bn at 0.1% due 2027 and €750m at 1.3% due 2036.  The transaction closed on July 26, 2021.

The deal also included a new series of dollar-denominated social bonds: US$2.25bn at 2.55 % due 2033, and the reopening of two social bonds: US$1.0bn at 3.1% due 2041 and US$500m at 3.1% due 2061. The transaction closed on July 27, 2021.

The Linklaters team was led by partner Conrado Tenaglia (Picture) and counsel Alejandro Gordano, alongside foreign attorney Monica Perez-Banuet Farell, Counsel Matthew Brigham (Tax), and associate Matthew Russo (Tax).

Morales & Besa advised the Republic of Chile in Chile.

Cleary Gottlieb Steeen & Hamilton advised the underwriters in US.

Garrigues advised the underwriters in Chile with a team including Pedro García Morales, Daniel Hernández Zapata, María Fernanda Jara Verdugo,  Juan Ignacio Lagos Soza and Macarena Fuentes Noguera.

Involved fees earner: Pedro García Morales – Garrigues; Daniel Hernández Zapata – Garrigues; María Fernanda Jara Verdugo – Garrigues; Juan Ignacio Lagos Soza – Garrigues; Matthew Brigham – Linklaters; Alejandro Gordano – Linklaters; Mónica Pérez-Banuet Farell – Linklaters; Matthew Russo – Linklaters; Conrado Tenaglia – Linklaters;

Law Firms: Garrigues; Linklaters;

Clients: Banco Santander Sa; BNP Paribas; BNP Paribas Securities; Citigroup Global Markets Ltd; Goldman Sachs & Co.; JP Morgan Securities; Republic of Chile; Santander Investment Securities Inc.; Scotia Capital Inc.; Scotiabank;

Author: Martina Bellini