Inversiones CMPC issues first hybrid bond under New York State law

2025-10-08T20:10:00
Chile
Cuatrecasas advises Inversiones CMPC on placing first hybrid bond for USD 600 million, under New York law
Inversiones CMPC issues first hybrid bond under New York State law
October 8, 2025

Cuatrecasas has advised Inversiones CMPC on successfully issuing a USD 600 million hybrid bond. The transaction—carried out under regulation 144-A—involved 11 banks as initial purchasers and was guaranteed by the parent company Empresas CMPC. 

The high level of investor interest was reflected in purchase orders exceeding USD 1 billion, a result that confirms the market's confidence in the company's financial soundness and prospects. Macarena Ravinet, partner at Cuatrecasas who led the transaction, said: “We are proud to have advised CMPC once again, especially on such an innovative transaction for the market and one that is so important for the company because of its pioneering structure and the considerable interest it generated among investors.”

The transaction is part of Inversiones CMPC’s strategy to diversify its funding sources and explore innovative structures in international markets. Being governed by New York State law, the transaction enabled Inversiones CMPC to access a broader and diverse range of investors, strengthening its presence in key international markets and consolidating its position as one of the most important corporate issuers in the region.

Financial flexibility

The hybrid bond was structured in the context of growing international interest in instruments offering companies financial flexibility and attractive alternatives to investors. Therefore, its successful placement reaffirms the demand for innovative corporate financing solutions and consolidates the valuation of Inversiones CMPC in the international market.

The advisory team was led by Macarena Ravinet, alongside Tomás Montes, Isidora Opazo and José Agüero (Corporate Finance), and Rodrigo Stein and María Ignacia Ramírez (Tax).

October 8, 2025