The notes, corresponding to the AD series, with a nine-year bullet maturity, were placed at a rate of 3.93%, achieving a spread of 93 base points, the lowest of all corporate issues so far this year. The transaction also generated great interest from investors, as reflected in a demand of more than 2.5 times the amount offered.

“We are grateful for the great response we received from a broad investor base. This is a sign of the confidence in our Company, which has been deepening its competitive advantages and has presence in different countries and industries. Empresas Copec has a long-term, sustainable business vision that reflects a commitment to creating value for all parties,” said Rodrigo Huidobro, Chief Financial Officer.

The proceeds of the transaction, where Scotiabank acted as financial advisor and placement agent, will be used to refinance short and/or long-term liabilities of the company and/or its subsidiaries.