Chile’s national copper mining company, Corporacion Nacional del Cobre (Codelco), will refinance its financial liabilities freeing up more cash, which it says it will invest in more capital projects. As part of the refinancing operation, Codelco has carried out a successful bond placement for $500 million with a 31-year term and a yield of 3.173%. The rate obtained represents a differential of 148 basis points over the U.S. Treasury bond of a similar term, the company said.
This rate is the lowest the corporation has obtained in its history for a debt of 30 years or more. More than 230 orders were received with demand exceeding US$4.5 billion, which shows the confidence investors have in the plans of the corporation and in the country.
This rate is the lowest the company has obtained in its history for a debt of 30 years or more. Codelco said it received more than 230 orders with demand exceeding $4.5 billion, which shows the confidence investors have in its plans and in Chile in general.
