Republic of Chile 7.125% Bonds Due 2012
Total Page:16
File Type:pdf, Size:1020Kb
LISTING PARTICULARS (To Accompanying Prospectus dated January 7, 2003) US $100,000,000 Republic of Chile 7.125% Bonds due 2012 The bonds bear interest at the rate of 7.125% per year. Interest on the bonds is payable on January 11 and July 11 of each year, beginning on January 11, 2003. The bonds will mature on January 11, 2012. The bonds are not redeemable prior to maturity. The bonds are a further issuance of, are consolidated to form a single series with, and from the date of delivery are fungible with Chile’s US$650,000,000 of 7.125% Bonds due 2012 issued October 16, 2001. Chile has applied to list the bonds on the Luxembourg Stock Exchange in accordance with its rules and regulations. Neither the Securities and Exchange Commission nor any state securities commission or regulatory body has approved or disapproved of the bonds or determined if the listing particulars or the accompanying prospectus is truthful or complete. Any representation to the contrary is a criminal offense. Per Bond Total Public Offering Price...................................................................................................................... 107.093% $107,093,000 Underwriting Discount................................................................................................................... 0.30% $ 300,000 Proceeds to Chile (before expenses) ............................................................................................ 106.793% $106,793,000 Interest on the bonds accrued from July 11, 2002 to date of delivery. The purchasers of the bonds were required to pay accrued interest from July 11, 2002 to the date the bonds were delivered. Chile issued the bonds on November 4, 2002. The underwriter delivered the bonds to purchasers on or about November 4, 2002. The issue price of the offering of the bonds is 107.093% plus accrued interest from July 11, 2002. Salomon Smith Barney April 25, 2003 You should rely only on the information contained in or incorporated by reference in this listing particulars and the accompanying prospectus. Chile has not authorized anyone to provide you with different information. Chile is not making an offer of these securities in any state where the offer is not permitted. You should not assume that the information contained in this listing particulars or the accompanying prospectus is accurate as of any date other than the dates indicated on their covers. TABLE OF CONTENTS Listing Particulars ABOUT THIS LISTING PARTICULARS...................................................................................................... S-3 SUMMARY OF THE OFFERING................................................................................................................... S-4 USE OF PROCEEDS ........................................................................................................................................ S-5 DESCRIPTION OF THE BONDS ................................................................................................................... S-6 UNDERWRITING............................................................................................................................................. S-9 VALIDITY OF THE BONDS ........................................................................................................................S-11 GENERAL INFORMATION .........................................................................................................................S-12 Prospectus About this Prospectus ............................................................................................................................................ii Certain Defined Terms and Conventions .............................................................................................................1 Forward-Looking Statements ................................................................................................................................2 Data Dissemination ................................................................................................................................................3 Use of Proceeds......................................................................................................................................................3 Summary.................................................................................................................................................................4 Republic of Chile ...................................................................................................................................................6 The Economy........................................................................................................................................................10 Balance of Payments and Foreign Trade............................................................................................................37 Monetary and Financial System..........................................................................................................................46 Public Sector Finances.........................................................................................................................................71 Public Sector Debt................................................................................................................................................83 Description of the Securities................................................................................................................................89 Taxation ..............................................................................................................................................................103 Plan of Distribution............................................................................................................................................106 Official Statements.............................................................................................................................................107 Validity of the Securities ...................................................................................................................................107 Authorized Representative.................................................................................................................................108 General Information...........................................................................................................................................108 Tables and Supplemental Information..............................................................................................................110 S-2 ABOUT THIS LISTING PARTICULARS This listing particulars supplements the accompanying prospectus dated January 7, 2003, relating to Chile’s debt securities and warrants. If the information in this listing particulars differs from the information contained in the accompanying prospectus, you should rely on the updated information in this listing particulars. References to the “prospectus supplement” in the accompanying prospectus should be read as references to this listing particulars. You should read this listing particulars along with the accompanying prospectus. Both documents contain information you should consider when making your investment decision. You should rely only on the information provided in this listing particulars and the accompanying prospectus. Chile has not authorized anyone else to provide you with different information. Chile and the underwriter are offering to sell the bonds and seeking offers to buy the bonds only in jurisdictions where it is lawful to do so. The information contained in this listing particulars and the accompanying prospectus is current only as of their respective dates. Chile is furnishing this listing particulars and the accompanying prospectus solely for use by prospective investors in connection with their consideration of a purchase of the bonds. Chile confirms that: • the information contained in this listing particulars and the accompanying prospectus is true and correct in all material respects and is not misleading as of its date; • it has not omitted facts, the omission of which makes this listing particulars and the accompanying prospectus as a whole misleading; and • it accepts responsibility for the information it has provided in this listing particulars and the accompanying prospectus. S-3 SUMMARY OF THE OFFERING This summary highlights information contained elsewhere in this listing particulars and the accompanying prospectus. It is not complete and may not contain all the information that you should consider before investing in the bonds. You should read the entire listing particulars and prospectus carefully. Issuer .................................................................. The Republic of Chile. Aggregate Principal Amount............................ U.S. $100,000,000. Issue Price.......................................................... 107.093% plus accrued interest from July 11, 2002. Maturity Date..................................................... January 11, 2012. Form of Securities ............................................. Chile will issue the bonds in the form of one or more registered global securities without coupons. Chile will not issue any bonds in bearer form. Denominations................................................... Chile will issue the bonds in denominations of $1,000 and integral multiples of $1,000. Interest...............................................................