Chile Successfully Completes Euro-Denominated Exchange Offer, Enhancing Debt Profile
Santiago, Chile – July 2, 2025 – The Republic of Chile today announced the successful completion of its previously announced offer to exchange its outstanding 1.875% Notes due 2027 (the “Old Notes”) for new 3.875% Notes due 2033 (the “New Notes”). The exchange offer, which was made in Euro, aimed to proactively manage Chile’s debt profile and further diversify its investor base.
The offer, which expired on July 1, 2025, saw significant participation from eligible holders of the Old Notes. Chile is pleased to report that a substantial aggregate principal amount of the Old Notes was tendered for exchange, demonstrating strong investor confidence in the Republic’s financial standing and its proactive approach to debt management.
This strategic move allows Chile to extend the average maturity of its outstanding Euro-denominated debt, creating a more balanced and sustainable debt structure. By issuing new notes with a later maturity date, Chile effectively pushes out its repayment obligations, providing greater flexibility for its fiscal planning. Furthermore, the exchange is expected to enhance the liquidity and attractiveness of Chile’s Euro-denominated debt in the international capital markets.
The proceeds from the issuance of the New Notes will be used for general purposes of the Republic, including the refinancing of existing debt obligations. This initiative underscores Chile’s commitment to prudent fiscal management and its continuous efforts to optimize its debt portfolio in alignment with its long-term economic objectives.
Citigroup Global Markets Europe AG acted as the sole dealer manager for the exchange offer. The Republic of Chile extends its gratitude to all participating investors and financial partners for their continued support and trust in the Chilean economy.
Chile Announces Results of its Euro-Denominated Exchange Offer
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