Corporación Nacional del Cobre de Chile Announces Extension of the Expiration Time of its Offers to Purchase for Cash

SANTIAGO, Chile, Oct. 19, 2021 /PRNewswire/ -- CORPORACIÓN NACIONAL DEL COBRE DE CHILE (the "Company" or "CODELCO") announces that it is extending the expiration time of its previously announced offers to purchase for cash (the "Tender Offer") any and all of its outstanding 4.500% Notes due 2023, 2.250% Notes due 2024, and 4.500% Notes due 2025 (collectively, the "Tender Securities"), to 5:00 p.m., New York City time, on October 19, 2021 (the "New Expiration Time").

Holders of US$594,914,240  aggregate principal amount of Tender Securities had tendered their Tender Securities and Holders of US$1,656,000  aggregate principal amount of Tender Securities had delivered notices of guaranteed delivery in respect of Tender Securities, in each case prior to 5:30 p.m., New York City time, on October 18, 2021. Additionally, prior to said time on October 18, 2021, the Tender Consideration (as defined in the Offer to Purchase) for the 4.500% Notes Due 2023 was US$1,069.98, the Tender Consideration for the 2.250% Notes Due 2024 was €1,072.11 and the Tender Consideration for the 4.500% Notes Due 2025 was US$1,108.21, in each case per US$1,000 or €1,000 principal amount, as applicable.

CODELCO is also extending the previously announced withdrawal time for the Tender Offer to 5:00 p.m., New York City time, on October 19, 2021 (the "New Withdrawal Time").  Tender Securities validly tendered prior to 8:00 a.m., New York City time, on October 19, 2021 (the "Original Expiration Time"), and any Tender Securities tendered after the Original Expiration Time and prior to the New Expiration Time, may be withdrawn prior to the New Withdrawal Time.

The Tender Offer is being made pursuant to the terms and conditions set forth in the offer to purchase dated October 12, 2021 (the "Offer to Purchase") and the related notice of guaranteed delivery (together with the Offer to Purchase, the "Offer Documents").  Except as otherwise described in this press release, all other terms of the Tender Offer as described in the Offer Documents remain unchanged.

CODELCO has retained BNP Paribas Securities Corp., BofA Securities, Inc, J.P. Morgan Securities LLC and Santander Investment Securities Inc. to act as dealer managers in connection with the Tender Offer (the "Dealer Managers"). D.F. King & Co., Inc. is acting as the tender agent and information agent for the Tender Offer.

Persons with questions regarding the Tender Offer should contact BNP Paribas Securities Corp. at (212) 841-3059 (collect) or (888) 210-4358 (toll-free), BofA Securities, Inc. at (646) 855-8998 (collect) or (888) 292-0070 (toll-free), J.P. Morgan Securities LLC at (212) 834–7279 (collect) or (866) 846–2874 (toll-free) and Santander Investment Securities Inc. at (212) 940-1442 (collect) or (855) 404-3636 (toll-free).

Holders who would like additional copies of the Offer Documents may contact the information agent, D.F. King & Co., Inc., by calling toll-free at (800) 549-6746 (banks and brokers may call collect at (212) 269-5550, email at [email protected]  or visit www.dfking.com/Codelco.

This press release is for informational purposes only. This press release shall not constitute an offer to purchase or sell or a solicitation of an offer to sell or purchase any securities, nor shall there be any offer, solicitation or sale of any securities in any state of other jurisdiction in which such an offer, solicitation or sale would be unlawful.

The Tender Offer does not constitute, and the Offer Documents may not be used in connection with, an offer or solicitation by anyone in any jurisdiction in which such offer or solicitation is not permitted by law or in which the person making such offer or solicitation is not qualified to do so or to any person to whom it is unlawful to make such offer or solicitation.

Forward Looking Statements

This press release may contain forward-looking statements within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended. These statements include, but are not limited to, statements related to the Company's expectations regarding the performance of its business, financial results, liquidity and capital resources, contingencies and other non-historical statements. You can identify these forward-looking statements by the use of words such as "believes," "expects," "potential," "continues," "may," "will," "should," "seeks," "approximately," "predicts," "intends," "plans," "estimates," "anticipates" or the negative version of these words or other comparable words. Such forward-looking statements are subject to various risks, uncertainties and assumptions. The Company is under no obligation (and expressly disclaims any such obligation) to update or alter its forward-looking statements whether as a result of new information, future events or otherwise. More detailed information about these and other factors is set forth in the Offer to Purchase. 

Media Contact:

Pablo Lubbert
+56 2 2690-3938
[email protected]

SOURCE Corporación Nacional del Cobre de Chile