Arauco Completes US$900 Million Bond Offering and Concurrent Tender Offers
11.13.17
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The Firm recently represented Chilean forestry company Celulosa Arauco y Constitución S.A. (“Arauco”) in an offering of US$500 million aggregate principal amount of 3.875% Notes due 2027 and US$400 million aggregate principal amount of 5.5% Notes due 2047. The offering was conducted in reliance upon Rule 144A and Regulation S under the U.S. Securities Act of 1933.
The Firm also represented Arauco in concurrent cash tender offers in which Arauco purchased US$297.2 million aggregate principal amount of outstanding 7.25% Notes due 2019, US$200 million aggregate principal amount of outstanding 5% Notes due 2021 and US$250 million aggregate principal amount of outstanding 4.75% Notes due 2022.
Arauco is one of the world’s largest producers of bleached and unbleached softwood kraft pulp and wood products in terms of production capacity.
The Simpson Thacher team included David L. Williams, Juan M. Naveira, Kirsten A. Harmon and Daniel Florez Linero (Capital Markets – New York); and Jon Cantor and Brian Mendick (Tax).