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Tuesday 13 January, 2009

SQM

SQM Places US$173 Million in Bond Issuance in C...





SANTIAGO, Chile, January 13 /PRNewswire/ --

    Sociedad Quimica y Minera de Chile S.A. (SQM) (NYSE: SQM; Santiago Stock
Exchange: SQM-B, SQM-A) announced today that it has successfully placed in
the Chilean market two series of bonds for an amount in local currency
equivalent to approximately US$173 million. Series H was issued for an amount
of 4 million UFs (Chilean inflation-adjusted currency, equivalent to
approximately US$139 million), at 21 years with a 10-year grace period, at a
re-offer yield of 5.05% in UFs. Series G was issued for an amount of Ch$ 21
billion (equivalent to approximately US$34 million), at 5 years, bullet, at a
re-offer yield of 7.5% in Chilean pesos.


    The financial resources will be used by SQM to refinance short- and
long-term debt and to fund its capital expenditures program.


    In this transaction, the company was advised by the local investment
banks: Banchile, IM Trust and LarrainVial.



    SQM is an integrated producer and distributor of specialty plant
nutrients, iodine and lithium. Its products are based on the development of
high quality natural resources that allow the Company to be leader in costs,
supported by a specialized international network with sales in over 100
countries. SQM's development strategy aims to maintain and strengthen the
Company's world leadership in its three core businesses: Specialty Plant
Nutrition, Iodine and Lithium.


    The leadership strategy is based on the Company's competitive advantages
and on the sustainable growth of the different markets in which it
participates. SQM's main competitive advantages in its different businesses
are:


    
    - Low production costs based on vast and high quality natural resources.
    - Know-how and its own technological developments in its various
      production processes.
    - Logistics infrastructure and high production levels that allow SQM to
      have low distribution costs.
    - High market share in all its core products
    - International sales network with offices in more than 20 countries and
      sales in over 100 countries.
    - Synergies from the production of multiple products that are obtained
      from the same two natural resources.
    - Continuous new product development according to the specific needs of
      its different customers.
    - Conservative and solid financial position

    For further information, contact:
    Patricio Vargas, +56-2-4252485 / [email protected]
    Carolina Rojas, +56-2-4252250 / [email protected]


    Statements in this press release concerning the Company's business
outlook, future economic performances, anticipated profitability, revenues,
expenses, or other financial items, anticipated cost synergies and product or
service line growth, together with other statements that are not historical
facts, are "forward-looking statements" as that term is defined under Federal
Securities Laws.


    Any forward-looking statements are estimates, reflecting the best
judgment of SQM based on currently available information and involve a number
of risks, uncertainties and other factors that could cause actual results to
differ materially from those stated in such statements.


    Risks, uncertainties, and factors that could affect the accuracy of such
forward-looking statements are identified in the public filing made with the
Securities and Exchange Commission, and forward-looking statements should be
considered in light of those factors.



                                                                          

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