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Metro de Santiago issues USD650 million bonds to fund metro projects, Chile [free access]

September 13, 2021

Metro de Santiago has issued bonds worth USD650 million in the international market to finance Line 7, Line 8, and Line 9 (partially) as well as extensions of Line 2 and Line 3. 

 

The bonds will be issued under Rule 144A and Regulation S of the Securities Market Law of the USA. The placement of 40-year bonds with a rate of 3.693 per cent has the lowest rate and the longest term taken by Metro de Santiago.

 

Investors from the United States, Europe, Asia, Chile and other Latin American countries had participated in the initial release, where an oversubscription of 3.2 times (USD2 billion) was observed. Morgan Stanley and Santander were the underwriters and the financial advisors of the project. Legal services were provided by Gibson Dunn (USA) and Ried y Fabres (Chile).