top of page

The Republic of Chile - Tender Offer 2024 (CL) - Pricing

REPUBLIC OF CHILE - ANNOUNCEMENT OF TENDER OFFER PURCHASE PRICE


24 JULY 2023


Full announcement including disclaimers and offer restrictions available via Prnewswire (Source: The Republic of Chile)

Scroll below for information on previous offers


"SANTIAGO, Chile, May 24, 2024 /PRNewswire/ -- On Wednesday, May 22, 2024, the Republic of Chile ("Chile") announced an offer to purchase for cash (the "Tender Offer") debt securities of the series listed in the table below (the "Old Bonds" and each Old Bonds, a "series" of Old Bonds), subject to the terms and conditions set forth in the offer to purchase of the same date (the "Offer to Purchase"). 


The Tender Offer commenced on Wednesday, May 22, 2024 and, unless extended or earlier terminated by Chile in its sole discretion, will expire at 10:00 a.m., New York Time, on Thursday, May 30, 2024 (the "Tender Period") and is expected to settle on or about Monday, June 3, 2024 (the "Tender Offer Settlement Date"), subject to pricing and closing of an offering of new bonds (the "New Bonds") to be issued by Chile as described in the Offer to Purchase (the "New Bonds Offering"). The Tender Offer is also being made concurrently with an offer to exchange Old Bonds for New Bonds and an offer to purchase Old Bonds for cash to the public in Chile (together, the "Local Offers").


The table below sets forth the purchase price per Ps. 1,000,000 principal amount of each series of Old Bonds (the "Purchase Price") that Chile will pay pursuant to the Tender Offer for any tendered Old Bonds accepted by Chile excluding any accrued interest. Tender orders of Old Bonds may be subject to proration.


Payment for any tendered Old Bonds accepted by Chile, together with an amount in cash corresponding to accrued and unpaid interest at the applicable rates contemplated in each series of Old Bonds to but excluding the Tender Offer Settlement Date ("Accrued Interest"), will be made after and conditioned upon the pricing and closing of the New Bonds Offering. Payment of the Purchase Price for Old Bonds accepted for purchase in the Tender Offer, together with Accrued Interest, will be made in U.S. dollars, based on an exchange rate for the conversion of Chilean pesos into U.S. dollars that will be determined using the average of the buy and sell spot exchange rates available on Bloomberg by typing "USDCLP BGN Curncy <GO>" at or around noon, New York Time, or as soon as possible thereafter, on the day that the New Bonds are priced, which is currently expected to be Thursday, May 30, 2024 (the "Applicable Exchange Rate"). The Applicable Exchange Rate is the same rate at which the purchase price payable for the New Bonds sold in the New Bonds Offering will be calculated in U.S. dollars."



...


 

REPUBLIC OF CHILE - ANNOUNCEMENT OF TENDER OFFER


22 JULY 2023


Full announcement including disclaimers and offer restrictions available via Prnewswire (Source: The Republic of Chile)

Scroll below for information on previous offers



"Tender Offer


Chile announced today the commencement of an offer to purchase for cash (the "Tender Offer") debt securities of the series listed in the table below (the "Old Bonds" and each Old Bonds, a "series" of Old Bonds). The aggregate Purchase Price (as defined below) to be paid for the Old Bonds tendered and accepted for purchase pursuant to the Tender Offer will be determined by Chile in its sole discretion (the "Maximum Purchase Amount"). The terms and conditions of the Tender Offer are set forth in an offer to purchase, dated the date hereof (the "Offer to Purchase").  The Tender Offer is being made concurrently with an offer to exchange Old Bonds for New Bonds (as defined below) and an offer to purchase Old Bonds for cash to the public in Chile (together, the "Local Offers")."




...



 
 

Exchange Offer for U.S. Dollar-Denominated Notes: Correction of Manifest Error

07 JULY 2023


Full announcement including disclaimers and offer restrictions available via Prnewswire (Source: The Republic of Chile)


...


"The Pricing Press Release is hereby amended to correct a manifest error in the Exchange Ratio applicable to the 2025 Notes. The table below sets for the corrected Exchange Ratio for the 2025 Notes, based on Chile's determination of the Eligible Notes Applicable Yield and the New Notes Applicable Yield applicable to such series."



"The Results Press Release is hereby amended to correct the aggregate principal amount of 2036 Notes and 2054 Notes to be issued in exchange for all USD Eligible Notes pursuant to the USD Invitation. As corrected, the aggregate principal amount of 2036 Notes to be issued in exchange for all USD Eligible Notes pursuant to the USD Invitation is US$499,852,623, and the aggregate principal amount of 2054 Notes to be issued in exchange for all USD Eligible Notes pursuant to the USD Invitation is US$381,658,578. "


...

 

Chile Announces Pricing Terms for its U.S. Dollar-Denominated and Euro-Denominated Exchange Offers

06 JULY 2023


Full announcement including disclaimers and offer restrictions available via SEC (Source: The Republic of Chile)


"Santiago, Chile: Today, the Republic of Chile (“Chile”) announced the pricing terms in connection with its (i) exchange offers for U.S. dollar-denominated notes announced on June 27, 2023 (the “USD Invitation”), and (ii) exchange offer for Eurodenominated notes announced on June 28, 2023 (the “Euro Invitation” and, together with the USD Invitation, the “Invitations”), all as described below. Capitalized terms used and not defined herein shall have the meaning assigned to them in the USD invitation materials or the Euro invitation materials, as applicable.


Pursuant to the USD Invitation, Chile invited holders of the notes set forth in the second table below (the “USD Eligible


Notes”), subject to certain conditions set forth in the USD invitation materials, to tender USD Eligible Notes in exchange for additional 4.950% Notes due 2036 (the “2036 Notes”) and 5.330% Notes due 2054 (the “2054 Notes” and, together with the 2036 Notes, the “USD New Notes”). Subject to proration, holders that validly tender USD Eligible Notes will receive in exchange for each US$1,000 principal amount of USD Eligible Notes accepted for exchange, the USD New Notes applicable to the relevant Group having a principal amount equal to US$1,000 multiplied by the relevant Exchange Ratio (rounded down to the nearest multiple of US$1.00).


Today, Chile announced the Exchange Ratio for each series of USD Eligible Notes based on its determination of the Eligible Notes Applicable Yield and the New Notes Applicable Yield applicable to each series of USD Eligible Notes and USD New Notes, respectively, as set forth in the tables below."



"Pursuant to the Euro Invitation, Chile invited holders of the notes set forth in the second table below (the “Euro Eligible

Notes” and, together with the USD Eligible Notes, the “Eligible Notes”), subject to certain conditions set forth in the Euro

invitation materials, to tender Euro Eligible Notes in exchange for additional 4.125% Notes due 2034 (the “Euro New Notes” and, together with the USD New Notes, the “New Notes”). Subject to proration, holders that validly tender Euro Eligible Notes will receive in exchange for each €1,000 principal amount of Euro Eligible Notes accepted for exchange, Euro New Notes having a principal amount equal to €1,000 multiplied by the relevant Exchange Ratio (rounded down to the nearest multiple of €1.00).


Today, Chile announced the Exchange Ratio for each series of Euro Eligible Notes based on its determination of the Eligible Notes Applicable Yield and the New Notes Applicable Yield applicable to each series of Euro Eligible Notes and Euro New Notes, respectively, as set forth in the tables below."


...


Results



...

 

Exchange Offers for U.S. Dollar-Denominated Notes: Correction of Typographical Errors and Inconsistencies

28 JUNE 2023


Full announcement including disclaimers and offer restrictions available via Luxse (Source: The Republic of Chile)


"Santiago, Chile: On June 27, 2023, the Republic of Chile (“Chile”) published a prospectus supplement (the “Prospectus Supplement”) setting forth the terms of its invitation to holders of each series of Eligible Notes listed on the inside front cover of the Prospectus Supplement to submit offers to exchange them for New Notes (the “Invitation”). Chile is publishing this press release for the convenience of holders of Eligible Notes solely to correct typographical errors and inconsistencies noted in the Prospectus Supplement. Capitalized terms used herein and not otherwise defined shall have the meaning ascribed to them in the Prospectus Supplement.


Except as expressly amended hereby to the extent specifically provided herein, all terms of the Invitation contemplated in the Prospectus Supplement and all other disclosures set forth in the Prospectus Supplement remain unchanged and are hereby expressly incorporated into this press release."



...

 

Chile Announces Exchange Offers for U.S. Dollar-Denominated Notes

27 JUNE 2023


Full announcement including disclaimers and offer restrictions available via Prnewswire (Source: The Republic of Chile)


"SANTIAGO, Chile, June 27, 2023 /PRNewswire/ -- Today, the Republic of Chile ("Chile") offered US$1.15 billion 4.950% Notes due 2036 (the "2036 Notes") and US$1.1 billion 5.330% Notes due 2054 (the "2054 Notes" and, together with the 2036 Notes, the "New Notes") for cash (the "New Notes Offering"), and announced the commencement of exchange offers for U.S. dollar-denominated notes (the "Invitation"), all as described below.


Pursuant to the Invitation, Chile is inviting holders of the notes set forth in the table below (the "Group A Notes" and the "Group B Notes", which are collectively referred to herein as the "Eligible Notes"), subject to certain conditions set forth in invitation materials, to tender Eligible Notes in exchange for additional 2036 Notes or 2054 Notes, which, if issued, will be consolidated, form a single series, and be fully fungible with the corresponding series of New Notes offered pursuant to the New Notes Offering. Holders of Group A Notes are invited to submit offers to exchange them for either 2036 Notes or 2054 Notes, and holders of Group B Notes are invited to submit offers to exchange them for 2054 Notes. The aggregate outstanding principal amount of Eligible Notes is approximately US$6.48 billion.


The Invitation will expire at 5:00 p.m., New York City time, on Thursday, July 6, 2023 (the "Expiration Deadline"), unless extended or early terminated by Chile at its sole discretion. Withdrawal rights will expire at the Expiration Deadline. The Invitation's settlement is expected to take place on Wednesday, July 12, 2023 (the "Expected Settlement Date")."



...

Tags:

5 views0 comments

Comments


bottom of page