Morales & Besa advised The Republic of Chile represented by the Ministry of Finance of Chile

July 17, 2017

Morales & Besa successfully advised the Republic of Chile represented by the Ministry of Finance in connection with a global offering of US$1,541,831,000 principal amount of 3.860% Notes due 2047 as well as a concurrent offering of €700,000,000 principal amount of 1.875% Notes due 2030.

Citigroup Global Markets Inc., Goldman Sachs & Co. LLC, HSBC Securities (USA) Inc. and J.P. Morgan Securities LLC or their affiliates served as joint lead managers and bookrunners for those offerings. The USD and Euro new notes were made by means of a prospectus supplement and an accompanying base prospectus under Chile’s registration statements filed with the United States Securities and Exchange Commission.

Chile used the net proceeds of the USD notes offering for general budgetary purposes and partially to pay the US$299,843,866 purchase price of a coterminous tender offer to purchase for cash certain 3.125% Global Notes due 2025 and 3.625% Global Notes due 2042, and the balance for general purposes of the government. The net proceeds of the sale of the Euro notes were used for general budgetary purposes of the government.

The team at M&B was led by partner Guillermo Morales, Senior Associates Ignacio Menchaca and Jaime Rosso and Associates María José Rojas and Vicente Valdés.

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