Tuesday, 20 January 2009

Codelco Bond Scheduled for Sale Today (Update)

Codelco, the copper producer struggling with fluctuating prices, is looking to sell at least $500 million of ten-year debt to partially finance capital expenditures and refinance debt. The price talk points at a yield of 5.5 percentage points more than the Nov. 2018 Treasury note yield. The book should be closed before 3 p.m. NYT.

Terms of the offering are:
  • Issuer: Corporacion Nacional del Cobre de Chile
  • Ratings: A1 / A / A
  • Size: Benchmark Size (At Least $500 million)
  • Maturity: 10 year
  • Structure: Senior Unsecured Notes
  • Bookrunners: HSBC Holdings Plc. /JPMorgan Chase & Co.
  • Timing: ASAP

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