We advised the initial purchasers on the investment-grade debt offering and concurrent cash tender offers

Davis Polk advised the initial purchasers in connection with the offering by Corporación Nacional del Cobre de Chile of $780 million aggregate principal amount of its 3.700% notes due 2050. The 3.700% notes due 2050 are a reopening of bonds issued on September 30, 2019 and January 14, 2020. The notes were sold in an offering exempt from registration pursuant to Rule 144A and Regulation S.

Davis Polk also advised the dealer managers in connection with Corporación Nacional del Cobre de Chile’s concurrent cash tender offers to purchase any and all of its outstanding 4.500% notes due 2023, 2.250% notes due 2024 and 4.500% notes due 2025. The concurrent cash tender offers were funded with the proceeds of the notes offering, together with available cash.

CODELCO is Chile’s state-owned copper mining company and is the world’s largest copper producer, controlling approximately 6% of the world’s proved and probable copper reserves.

The Davis Polk corporate team included partner Nicholas A. Kronfeld and counsel Katia Brener. The tax team included partner Ethan R. Goldman and associate Tyler Scheiner. All members of the Davis Polk team are based in the New York office.

Copy link to share post