SoFi stock falls after announcing $1.5B public offering of common stock
Sociedad Química y Minera de Chile S.A. (NYSE:SQM; Santiago Stock Exchange:SQM-B, SQM-A) announced Thursday that it has completed the placement of Series S hybrid bonds in the Chilean general securities market, raising UF 10,000,000, which is approximately $430 million.
The Series S bonds, authorized on November 25, are part of a 35-year bond program registered in the Securities Registry of the Commission for the Financial Market under No. 1239. The bonds will mature on February 15, 2058, and will accrue a fixed annual interest rate of 4% on the outstanding principal expressed in unidades de fomento (UF), starting November 15. The effective placement rate was 3.84%, which includes a local placement spread over the Central Bank of Chile’s UF-denominated bond of equivalent term of 1.52%.
According to the company’s statement, proceeds from the bond placement will be used for general corporate purposes and to refinance existing debt.
SQM is a global company listed on both the New York Stock Exchange and Santiago Stock Exchange. The information in this article is based on a press release statement filed with the Securities and Exchange Commission.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.