By Christine Van Dusen
Atlanta, Aug. 6 - Corporacion Nacional del Cobre de Chile (Codelco) priced $750 million 4½% 10-year notes (expected ratings: A1/AA-/A+) at 99.864 to yield Treasuries plus 187.5 basis points, a syndicate source said.
The notes were talked at a spread in the 187.5 bps area.
BofA Merrill Lynch, HSBC and Mitsubishi UFJ were the bookrunners for the Rule 144A and Regulation S deal.
The proceeds will be used to pay existing debt, for general corporate purposes and for capital expenditures.
Codelco is a Santiago, Chile-based copper mining company.
| Issuer: | Corporacion Nacional del Cobre de Chile (Codelco)
|
| Amount: | $750 million
|
| Maturity: | Aug. 13, 2023
|
| Description: | Notes
|
| Bookrunners: | BofA Merrill Lynch, HSBC, Mitsubishi UFJ
|
| Coupon: | 4½%
|
| Price: | 99.864
|
| Spread: | Treasuries plus 187.5 bps
|
| Trade date: | Aug. 6
|
| Settlement date: | Aug. 13
|
| Expected ratings: | Moody's: A1
|
| Standard & Poor's: AA-
|
| Fitch: A+
|
| Distribution: | Rule 144A and Regulation S
|
| Price talk: | Treasuries plus 187.5 bps area
|
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