UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE
SECURITIES EXCHANGE ACT OF 1934
For the month of November 2023.
Commission File Number 33-65728
CHEMICAL AND MINING COMPANY OF CHILE INC.
(Translation of registrant’s name into English)
El Trovador 4285, Santiago, Chile (562) 2425-2000
(Address of principal executive office)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F:_X_ Form 40-F
SQM ANNOUNCES ISSUE AND SALE
OF US$750 MILLION OF SENIOR UNSECURED “GREEN BONDS”
Santiago, Chile, November 2, 2023 –Sociedad Química y Minera de Chile S.A. (SQM) (NYSE: SQM; Santiago Stock Exchange: SQM-B, SQM-A) announced today that it had agreed to issue and sell US$750 million principal amount of its senior unsecured notes due 2033. The notes will have an annual interest rate of 6.500%, and the transaction is expected to close on November 7, 2023, subject to customary closing conditions.
SQM intends to allocate an amount equal to the net proceeds from the offering of the notes to finance or refinance, in whole or in part, recently completed, ongoing or future Eligible Green Projects, with disbursements covering project expenditures for up to 36 months preceding the issuance date of the notes and until the maturity date of the notes, including the development and redevelopment of such projects.
“Eligible Green Projects” include expenditures for the development, expansion, operation and maintenance of projects for the extraction and processing of lithium and production of lithium hydroxide and lithium carbonate, primarily dedicated to applications related to clean transportation and energy efficiency, and may include lithium carbonate and lithium hydroxide production expansion in Chile.
Pending the allocation of the net proceeds to Eligible Green Projects, all or a portion of the net proceeds may be used for the payment of outstanding indebtedness or may be temporarily invested in cash, cash equivalents, and/or held in accordance with SQM’s internal liquidity and capital management policies.
The notes are being sold to qualified institutional buyers in the United States in accordance with Rule 144A under the U.S. Securities Act of 1933, as amended (the “Securities Act”), and to persons outside the United States in accordance with Regulation S under the Securities Act. The notes have not been and will not be registered under the Securities Act or any state or other jurisdiction’s securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and applicable state or other jurisdictions’ securities laws.
The notes are not intended to be offered, sold or otherwise made available to any retail investor in the European Economic Area or the United Kingdom. Accordingly, no key information document required by Regulation (EU) No 1286/2014 (including as it forms part of United Kingdom domestic law by virtue of the European Union (Withdrawal) Act 2018) has been prepared in relation to the notes.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy the notes or any other securities, nor shall there be any offer, solicitation or sale of the notes or any other securities in any state or other jurisdiction in which such an offer, solicitation or sale would be unlawful.
About SQM
SQM is a global company that is listed on the New York Stock Exchange and the Santiago Stock Exchange (NYSE: SQM; Santiago Stock Exchange: SQM-B, SQM-A). SQM develops and produces diverse products for several industries essential for human progress, such as health, nutrition, renewable energy and technology through innovation and technological development. We aim to maintain our leading world position in the lithium, potassium nitrate, iodine and thermo-solar salts markets.
For further information, contact:
Gerardo Illanes 56-2-24252022 / gerardo.illanes@sqm.com
Irina Axenova 56-2-24252280 / irina.axenova@sqm.com
Isabel Bendeck 56-2-24252274 / isabel.bendeck@sqm.com
For media inquiries, contact:
Maria Ignacia Lopez / ignacia.lopez@sqm.com
Pablo Pisani / pablo.pisani@sqm.com
Cautionary Note Regarding Forward-Looking Statements
This news release contains “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as: “anticipate,” “plan,” “believe,” “estimate,” “expect,” “strategy,” “should,” “will” and similar references to future periods. Examples of forward-looking statements include, among others, statements we make concerning the Company’s pending acquisition offer for Azure Minerals Limited, capital expenditures, financing sources, Sustainable Development Plan, business and demand outlook, future economic performance, anticipated sales volumes, profitability, revenues, expenses, or other financial items, anticipated cost synergies and product or service line growth.
Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are estimates that reflect the best judgment of SQM management based on currently available information. Because forward-looking statements relate to the future, they involve a number of risks, uncertainties and other factors that are outside of our control and could cause actual results to differ materially from those stated in such statements. Therefore, you should not rely on any of these forward-looking statements. Readers are referred to the documents filed by SQM with the United States Securities and Exchange Commission, including the most recent annual report on Form 20-F, as amended, which identifies other important risk factors that could cause actual results to differ from those contained in the forward-looking statements. All forward-looking statements are based on information available to SQM on the date hereof and SQM assumes no obligation to update such statements, whether as a result of new information, future developments or otherwise, except as required by law.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| | | | | |
| |
| CHEMICAL AND MINING COMPANY OF CHILE INC. |
| (Registrant) |
| Date: November 2, 2023 | /s/ Gerardo Illanes |
| By: Gerardo Illanes |
| CFO |
Persons who are to respond to the collection of information contained SEC 1815 (04-09) in this form are not required to respond unless the form displays currently valid OMB control number.
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