Bondholders bypass Codelco buyback

Bondholders bypass Codelco buyback

Bonds Debt Capital Markets Corporate & Sovereign Strategy Asset Management Fixed Income Funds Chile Andean US

Chile's Codelco said that bondholders tendered $130m in 2022 and 2023 notes by the early deadline of a bond buyback on October 4, well short of the state-owned copper miner's target of $639m. As a result, Codelco agreed to repurchase $107m in 3% 2022 notes and $23.1m in 4.5% 2023 notes. It offered to pay $1,023 for every $1,000 in 2022s and $1,083 for $1,000 in 2023s, it said in a press release. Codelco sold $2bn in new bonds in late September to pay for the buyback, printing $1.1bn in 10-year n

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