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Codelco To Sell Bonds For $4B Investments
Codelco is seeking to sell bonds within 12 months to help finance a $4 billion investment in its Chilean mines next year.
Codelcoisseeking to sell bonds within 12 months to help finance a $4 billion investment in its Chilean mines next year,Bloombergreports. The state-owned copper company did not reveal the amount it will raise in the debt markets.
The company will raise part of the investment in U.S. dollar-denominated bonds as well as using amortization and retention of profits. Codelco will spend at least $20 billion in 10 years to boost annual production. The company sold $1 billion of 10-year bonds in October.
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