May 7, 2024
Copec and Arauco companies renew their boards of directors
During the last shareholders’ meetings of Empresas Copec and the forestry subsidiary, the members of their respect...
The Company’s placement was worth UF1,500,000 (approximately US$59 million) and evidenced the market’s high level of interest, with demand exceeding the amount offered by 2.7 times.
“We are thankful for the great response from a broad base of investors. It is a sign of the market’s confidence in our Company, which has been deepening its competitive advantages, has presence in different countries and industries, and implements a sustainable business model that is designed for the long-term reflecting a commitment to creating value for all parties,” said Rodrigo Huidobro, Empresas Copec’s Chief Financial and Administration Officer.
The bonds were structured under Series AC, with a 7-year term and a placement rate of 3.86%, with Scotiabank as placement agent. The proceeds will be used 100% to refinance short and/or long-term liabilities of the Company and/or its subsidiaries.