Codelco retires bonds in buyback

Codelco retires bonds in buyback

Corporate & Sovereign Strategy Bonds Debt Fixed Income Capital Markets Chile

Chilean copper miner Codelco said on Wednesday that it agreed to repurchase $665 million of $1.75 billion in outstanding bonds that mature between 2023 and 2025. The state-owned company agreed to buy back $158 million in 4.5% 2023 bonds along with €200 million ($233 million) in 2.25% 2024 bonds and $274 million in 4.5% 2025 bonds. It will pay $1,069.98 for every $1,000 in 2023 bonds, €1,072.11 for the 2024s and $1,108.21 for the 2025s. On Tuesday, Codelco added $780 million to its 3.7% 2050 bond

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