The Ministry of Finance today completed a new placement of sovereign Treasury bonds of the Republic of Chile in international markets, through the issuance of three instruments denominated in euros for a total amount of €3.1 billion, as part of its 2026 financing plan and prudent public debt management strategy.

Finance Minister Jorge Quiroz highlighted the results, noting that "this operation confirms the confidence of international investors in Chile: in its macroeconomic soundness, in the seriousness of its fiscal accounts, and in the responsible management of public debt."

The placement attracted strong interest among global investors, with a broad and diversified demand base. The order book reached €8.7 billion, equivalent to 2.8 times the amount placed, with 349 orders from approximately 200 investor accounts in Europe, the United States, Asia, and the Middle East.

With this operation, the Ministry of Finance consolidates its presence in the European market and extends its euro reference curve, facilitating access to this market for other Chilean issuers.

The transaction is also part of the Ministry of Finance's policy of diversifying its financing sources by currency, maturity, and investor base, while maintaining a balanced maturity profile and taking advantage of favorable market windows to secure advantageous conditions for the Treasury.

This is the first international placement made under Law No. 21,831, which authorizes increased borrowing by the Central Government during 2026 of up to an additional USD 6.2 billion.

Issuance Details

The issuance included the following instruments:

• Eight-year bond, maturing August 3, 2034, for €1.25 billion at a yield of 4.101% (mid-swap rate plus 100 basis points)

• Twelve-year bond, maturing August 3, 2038, for €1.1 billion at a yield of 4.424% (mid-swap rate plus 120 basis points)

• Twenty-year bond, maturing August 3, 2046, for €750 million at a yield of 4.759% (mid-swap rate plus 143 basis points)

The bonds were issued under the law of the State of New York and were registered with the United States Securities and Exchange Commission (SEC).

The Republic of Chile maintains credit ratings of A2 (stable outlook) from Moody's, A (stable outlook) from S&P Global Ratings, and A- (stable outlook) from Fitch Ratings.

The issuance was led by the Ministry of Finance's Public Debt Office, with the participation of lead underbanks BNP Paribas, Goldman Sachs, J.P. Morgan, and Santander, and international legal counsel from Shearman & Sterling and local legal counsel from Garrigues.