Republic of Chile’s US$2.1 Billion Euro- And Dollar-Denominated Social Bonds

Linklaters and Morales & Besa advised the Republic of Chile on the deal, while Cleary Gottlieb and Garrigues represented the Underwriters.

Republic of Chile issued euro- and dollar-denominated social bonds.

The deal was comprised of a new euro-denominated social bond: €918bn at 0.555% due 2029 and a new dollar-denominated social bond: US$1.0bn at 3.42% due 2071. Chile intends to invest the proceeds from the sale of the notes into projects that may qualify as “eligible social expenditures” under Chile’s Sustainable Bond Framework.

BNP Paribas Securities Corp., Citigroup Global Markets Inc., Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC, Santander Investment Securities Inc. and Scotia Capital (USA) Inc. acted as underwriters for the U.S. Dollar-Denominated Debt Offering.

Banco Santander S.A., BNP Paribas, Citigroup Global Markets Limited, Goldman Sachs & Co. LLC, J.P. Morgan Securities plc and Scotia Europe plc acted as underwriters for the Euro-Denominated Debt Offering.

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).

In Chile, Morales & Besa advised the Republic of Chile with a team including Guillermo Morales E., Santiago Martínez Izquierdo, Andrea González and  Bárbara Echaiz G.

The Cleary team included partner Andrés de la Cruz, associate Ignacio Lagos, international lawyers Juan Ignacio Leguízamo and Lara Gómez Tomei.  Partner Jason Factor and associates Victoria Ju and Andrew Wasilick provided NY tax advice.

In Chile, Garrigues advised the underwriters with  Pedro García Morales, Daniel Hernández, Juan Pablo Obaid, María Fernanda Jara Verdugo,  Macarena Fuentes Noguera and Vicente Milic.

Involved fees earner: Andrés De la Cruz – Cleary Gottlieb Steen & Hamilton; Jason Factor – Cleary Gottlieb Steen & Hamilton; Lara Gómez Tomei – Cleary Gottlieb Steen & Hamilton; Victoria Ju – Cleary Gottlieb Steen & Hamilton; Ignacio Lagos – Cleary Gottlieb Steen & Hamilton; Juan Ignacio Leguízamo – Cleary Gottlieb Steen & Hamilton; Andrew Wasilick – Cleary Gottlieb Steen & Hamilton; Pedro García Morales – Garrigues; Daniel Hernández Zapata – Garrigues; María Fernanda Jara Verdugo – Garrigues; Juan Pablo Obaid Lennon – Garrigues; Matthew Brigham – Linklaters; Alejandro Gordano – Linklaters; Mónica Pérez-Banuet Farell – Linklaters; Matthew Russo – Linklaters; Conrado Tenaglia – Linklaters; Barbara Echaiz – Morales & Besa; Andrea González – Morales & Besa; Santiago Martínez – Morales & Besa; Guillermo Morales – Morales & Besa;

Law Firms: Cleary Gottlieb Steen & Hamilton; Garrigues; Linklaters; Morales & Besa;

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

Author: Giulia Di Palma