Sociedad Quimica y Minera de Chile S.A. (SQM)

Sociedad Quimica y Minera de Chile S.A. (SQM) - Bond

Industry
Power/Energy efficiency
Area of finance
Project & Infrastructure Finance
Region
North America
Countries
United States

Deal Overview

Socieded Química y Minera de Chile's (“SQM”) first "green" bond offering of US$700 million principal amount of 3.500% Notes due 2051 (the “Green Bonds”). The Green Bonds were offered in the United States to qualified institutional buyers pursuant to Rule...

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Socieded Química y Minera de Chile's (“SQM”) first "green" bond offering of US$700 million principal amount of 3.500% Notes due 2051 (the “Green Bonds”). The Green Bonds were offered in the United States to qualified institutional buyers pursuant to Rule 144A under the Securities Act and outside the United States pursuant to Regulation S under the Securities Act. The proceeds of the Green Bonds will be used to finance or refinance recently completed or future eligible green projects with respect to lithium production capacity expansion for applications related to clean transportation and energy efficiency. Disbursements may cover project expenditures for up to 36 months preceding the issuance of the Green Bonds and until their maturity date. BofA Securities, Inc., Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC and Santander Investment Securities Inc. acted as initial purchasers of the Green Bonds. SQM is a Chile-based global leader in the production of specialty plant nutrients, iodine and derivatives, lithium and derivatives, potassium and certain industrial chemicals. SQM shares are traded on the Santiago Stock Exchange and its ADSs are traded on the New York Stock Exchange.

This transaction is significant in the industry as it pertains to sustainability in the region. SQM intends to allocate an amount equal to the net proceeds from the offering of the notes to finance or refinance, in whole or in part, recently completed, ongoing or future eligible green projects. This includes battery metal lithium, critical to the electric vehicles that have become popular amid climate change concerns.

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Deal Volume
$700m
Financial Close
21 September 2021
Sources
Submitted by participant(s)

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Projects

Socieded Química y Minera de Chile Portfolio

Greenfield
Energy efficiency
North America
United States
$700m