Business / Published November 16, 2022

Empresas Copec places two series of bonds worth USD 254 millions

The Company has placed two series of bonds in the local market, worth a total of 6.5 million UF, or approximately USD 254 million.

This is the second transaction of this kind for Empresas Copec in the year and included 3 million UF in AA series, in a 10 year term and a placement rate of 2.65%, and, on the other hand, 3.5 million UF in AB series, with a 21 year term and a placement rate of 2.58%.

It should be noted that these series of bonds have a local risk classification of AA/Stable, by Fitch Chile and Feller Rate.

The funds will be used to refine the liabilities of Empresas Copec and its subsidiaries. The placement agent was Credicorp Capital.

Regarding the operation, Rodrigo Huidobro, Chief Financial Officer at Empresas Copec, said: “The placement had very good results. Thanks to a job well thought out and executed, we were able to take advantage of a market window with excellent conditions. The rates and spreads achieved in both series are among the lowest recorded in recent times in transactions of this type, and the demand far exceeded the amount offered. We appreciate the confidence of the financial markets and institutional investors in the Company and in the sustainability of its business model”.