Corporación Nacional del Cobre de Chile $500 Million Notes Offering and Concurrent Cash Tender Offers
12/15/2020

Davis Polk advised the initial purchasers in connection with the offering by Corporación Nacional del Cobre de Chile of $500 million aggregate principal amount of its 3.150% notes due 2051. The notes were sold in an offering exempt from registration pursuant to Rule 144A and Regulation S.

Davis Polk is also advising 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 3.875% notes due 2021, 3.000% notes due 2022 and 4.500% notes due 2025 and to purchase up to a certain maximum acceptance amount of its outstanding 4.500% notes due 2025 and 3.625% notes due 2027. The concurrent cash tender offers will be 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, counsel Katia Brener and associate Alexa Póo. The tax team included counsel Ethan R. Goldman and associate Talya Presser. All members of the Davis Polk team are based in the New York office.