Corporación Nacional del Cobre de Chile Announces the Final Results of its Offers to Purchase for Cash

Published: Oct. 22, 2021 at 12:49 PM CDT

SANTIAGO, Chile, Oct. 22, 2021 /PRNewswire/ -- CORPORACIÓN NACIONAL DEL COBRE DE CHILE (the "Company" or "CODELCO") announces the final results of the previously announced offers to purchase for cash (the "Tender Offer") any and all of its outstanding 4.500% Notes due 2023, 2.250% Notes due 2024, and 4.500% Notes due 2025 (collectively, the "Tender Securities").

The Tender Offer was made upon the terms and subject to the conditions set forth in the Offer to Purchase dated October 12, 2021 (as it may be amended or supplemented from time to time, the "Offer to Purchase") and the accompanying Notice of Guaranteed Delivery dated October 12, 2021 (as it may be amended or supplemented from time to time, the "Notice of Guaranteed Delivery" and, together with the Offer to Purchase, the "Offer Documents").

The Tender Offer expired at 5:00 p.m., New York City time, on October 19, 2021 (the "Expiration Date") and settled on October 22, 2021 (the "Settlement Date").

All conditions described in the Offer to Purchase that were to be satisfied or waived on or prior to the Settlement Date, including the New Bond Settlement Condition (as such term is defined in the Offer to Purchase), were satisfied on or prior to the Settlement Date.

The table below sets forth the aggregate principal amount of Tender Securities validly tendered in the Tender Offer or validly delivered through guaranteed delivery procedures that CODELCO accepted for purchase, as well as the consideration payable for such Tender Securities accepted for purchase in the Tender Offer:

Title of Security

CUSIP/ISIN

Principal Amount
Outstanding

Consideration(1)

Principal Amount
Tendered and Accepted
for Purchase(2)

4.500% Notes Due 2023

(the "2023 Notes")

CUSIP: 
21987BAS7

P3143NAR5

 

ISIN:
USP3143NAR54

US21987BAS79

 

US$386,183,000

US$1,069.98

US$157,965,000

2.250% Notes Due 2024

(the "2024 Notes")

ISIN:
XS1084942470

XS1084943106

 

€600,000,000

€1,072.11

€ 200,116,000

4.500% Notes Due 2025

(the "2025 Notes")

CUSIP:
21987BAV0

P3143NAW4

 

ISIN:
US21987BAV09

USP3143NAW40

 

US$671,102,000

US$1,108.21

US$273,867,000












(1)

Per US$1,000 or €1,000 principal amount of Tender Securities, as applicable.  Holders whose Tender Securities were accepted for purchase also received the accrued and unpaid interest on such Tender Securities from, and including, the last interest payment date for the Tender Securities to, but not including, the Settlement Date.

The aggregate amount paid by CODELCO to holders whose Tender Securities were accepted for purchase, including accrued and unpaid interest, was approximately US$726 million.

BNP Paribas Securities Corp., BofA Securities, Inc., J.P. Morgan Securities LLC and Santander Investment Securities Inc., are acting as Dealer Managers for the Tender Offer. D.F. King & Co., Inc. is acting as the tender agent and information agent for the Tender Offer.

Persons with questions regarding the Tender Offer should contact BNP Paribas Securities Corp. at (212) 841-3059 (collect) or (888) 210-4358 (toll-free), BofA Securities, Inc. at (646) 855-8998 (collect) or (888) 292-0070 (toll-free), J.P. Morgan Securities LLC at (212) 834–7279 (collect) or (866) 846–2874 (toll-free) and Santander Investment Securities Inc. at (212) 940-1442 (collect) or (855) 404-3636 (toll-free).

Holders who would like additional copies of the Offer Documents may contact the information agent, D.F. King & Co., Inc., by calling toll-free at (800) 549-6746 (banks and brokers may call collect at (212) 269-5550, email at codelco@dfking.com  or visit www.dfking.com/Codelco.

This press release is not an offer to sell or a solicitation of an offer to buy any security. The Tender Offer is being made solely pursuant to the Offer Documents, copies of which will be delivered to the holders of the Tender Securities, and which set forth the complete terms and conditions of the Tender Offer. Holders are urged to read the Offer Documents carefully before making any decision with respect to their Tender Securities.

The Tender Offer does not constitute, and the Offer Documents may not be used in connection with, an offer or solicitation by anyone in any jurisdiction in which such offer or solicitation is not permitted by law or in which the person making such offer or solicitation is not qualified to do so or to any person to whom it is unlawful to make such offer or solicitation.

Forward Looking Statements

This press release may contain forward-looking statements within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended. These statements include, but are not limited to, statements related to the Company's expectations regarding the performance of its business, financial results, liquidity and capital resources, contingencies and other non-historical statements. You can identify these forward-looking statements by the use of words such as "believes," "expects," "potential," "continues," "may," "will," "should," "seeks," "approximately," "predicts," "intends," "plans," "estimates," "anticipates" or the negative version of these words or other comparable words. Such forward-looking statements are subject to various risks, uncertainties and assumptions. The Company is under no obligation (and expressly disclaims any such obligation) to update or alter its forward-looking statements whether as a result of new information, future events or otherwise. More detailed information about these and other factors is set forth in the Offer to Purchase.

Media Contact:

Pablo Lubbert
+56 2 2690-3938
pablo.lubbert@codelco.cl

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SOURCE Corporación Nacional del Cobre de Chile

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