We advised the initial purchasers on the offering

Davis Polk advised the initial purchasers in connection with the offering by Sociedad Química y Minera de Chile S.A. (SQM) of $600 million aggregate principal amount of its 5.625% subordinated capital notes due 2056. The notes were sold in an offering exempt from registration pursuant to Rule 144A and Regulation S. SQM intends to use the proceeds to refinance outstanding debt and for general corporate purposes, including funding its capital expenditures program.

SQM is one of the world’s largest producers of lithium, iodine and potassium nitrate and it also produces specialty plant nutrients, iodine derivatives, lithium derivatives, potassium chloride, potassium sulfate and certain industrial chemicals, which are sold in over 100 countries.

The Davis Polk corporate team included partner Maurice Blanco and counsel Alain Kuyumjian and Konstantinos Papadopoulos. Partner Daniel S. Kahn advised on regulatory matters. The tax team included counsel Alon Gurfinkel and associate Valentin van de Walle. Members of the Davis Polk team are based in the New York, Washington DC and London offices.

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