trending Market Intelligence /marketintelligence/en/news-insights/trending/Y9EYpirl6YdQCmb1Ai919g2 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

In This List

Codelco issues US$2B in bonds to upgrade projects, refinance debts

Mining Exploration Insights - April 2020

Mining Exploration Insights December

Mining Exploration Insights: Dip in gold drilling weighs on results

State of the Market: Mining Q2-2019

Codelco issues US$2B in bonds to upgrade projects, refinance debts

Chile's Codelco issued US$2 billion in bonds to secure funding to upgrade projects and refinance debt, reported Jan. 7, citing a company statement.

The copper giant issued US$1 billion in 10-year bonds and obtained a further US$1 billion in 30-year bonds issued in 2019 as part of a fresh funding strategy that includes taking out loans and selling nonstructural assets.

Codelco aims to secure funding for its 10-year, US$40 billion mines overhaul as many of its operations have been affected by declining ore grades and increasing costs.

"A favorable debt market, with rates at historically low levels, makes it attractive to prefinance our cash needs of 2021," Codelco's vice president of administration and finance, Alejandro Rivera, said.

The country's Finance Minister Ignacio Briones recently said the state has no plan for capital injection into Codelco, leaving the company to fund its own U$20 billion investment program.