Chile’s €1.75 Billion Social Debt Offering

Cleary Gottlieb represented Banco Santander S.A., BNP Paribas, Citigroup Global Markets Limited, Goldman Sachs & Co. LLC, J.P. Morgan Securities plc, and Scotia Europe plc, as underwriters, in the Republic of Chile’s (Chile) SEC-registered offering of €1 billion 0.1% bonds due 2027 and €750 million 1.3% bonds due 2036.

The offering of the notes priced on July 21, 2021, and closed on July 26, 2021.

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.