Linklaters advises the Republic of Chile on momentous SEC-registered bond offering
First sovereign in the region to cover green, social and sustainability themes
Linklaters has advised the Republic of Chile on the SEC-registered offering of dollar-denominated bonds totaling US$2.0bn. The momentous deal was comprised of two series of bonds, US$300m 2.450% notes due 2031 and US$1.7bn 3.100% notes due 2041.
The notes due 2031 are a further issuance of the Republic of Chile’s outstanding 2.450% Notes due 2031 issued in an aggregate principal amount of US$1.45bn on May 12, 2020. The Republic of Chile intends to use the proceeds from the sale of the notes due 2031 for general purposes of the government, and the sale of notes due 2041 for projects that qualify as eligible social expenditures.
The strong issuance highlights the demand from investors with dedicated environmental, social, and governance (ESG) mandates.
The Linklaters team was led by partner Conrado Tenaglia and counsel Alejandro Gordano, alongside counsel Matthew Brigham (Tax) and foreign attorneys Monica Perez-Banuet Farell and Juan Mata.
Linklaters has been at the forefront of the growth in the green bonds market, advising on some of the leading offerings in recent years. This has included the first sovereign green bond issuance in the Middle East and North Africa region, Ukraine’s first-ever green bond issuance, and the world’s first green convertible bond in the real estate sector among many others. Linklaters also recently advised on Europe’s first sovereign sustainability bond.
Linklaters’ green and social bond experience spans its Latin American, North American, European, and Asian offices and draws on the support of the firm’s market-leading practices.
