By Marisa Wong
Morgantown, W.Va., Nov. 8 – Sociedad Quimica y Minera de Chile SA placed 3 million unidades de fomento of 3.45% series Q bonds due June 1, 2038, according to a 6-K filing with the Securities and Exchange Commission.
The bonds have an early redemption option from Nov. 8, the placement date.
The bonds were sold through a stock market placement in Chile to Euroamerica SA for a total of CLP 83,567,623,842.
The placement was authorized on Oct. 31, with the issue credited to a 30-year registered bond line.
About 90% of the funds obtained from the placement will be allocated to the financing of the lithium, potassium nitrate and iodine expansion program in Chile; the remainder will be allocated to the company’s investment plan and to finance working capital.
SQM is a Santiago, Chile-based supplier of specialty fertilizers and inorganic industrial chemicals.
| Issuer: | Sociedad Quimica y Minera de Chile SA
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| Issue: | Series Q bonds
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| Amount: | 3 million UF
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| Maturity: | June 1, 2038
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| Coupon: | 3.45%
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| Call option: | From Nov. 8
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| Investor: | Euroamerica SA
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| Placement date: | Nov. 8
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