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Chile's SQM launches US$400M senior notes offering to fund capex, repay debt

Sociedad Quimica y Minera de Chile SA said Jan. 16 that it will issue and sell US$400 million in 4.250% senior unsecured notes due 2050.

The net proceeds of the notes offering will be used for general corporate purposes, including the funding of its capital expenditure program and the reduction of its outstanding debt, including the payment of its US$250 million of 5.50% notes due April 21.

Chile's environmental regulator recently defended in court its 2019 approval of SQM's US$25 million plan to remediate damage from overdrawing lithium-rich brine from the Atacama salt flat.