Economy & Business - April 2022

CHILE: World’s first sovereign sustainability-linked bond launched

On 2 March Chile became the world’s first sovereign borrower to launch a sustainability-linked bond (SLB). The US$2bn, 20-year bond was priced with a coupon set at 4.346%, equivalent to a spread of 200 basis points above 20-year US Treasury notes. Denoting strong interest among investors, the SLB attracted over US$8bn worth of buy orders, meaning it was oversubscribed by 4.1 times. Then-finance minister Rodrigo Cerda said the response showed a high level of confidence in the Chilean economy.

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