Chilean company SQM returns to the local currency bond market for financing after seven years

Chilean Chemical and Mining Company (SQM, lithium producer) issued 10 million "development units" (unidades de fomento) hybrid bonds with a term of 6.3 years and a yield of 3.84%. The bonds are considered 50% equity and 50% preferred debt, which helps credit rating agencies maintain a higher overall rating for the issuer. SQM will use the raised funds for general corporate purposes and refinancing existing debt, including a three-year capital expenditure plan. This marks the company's first return to the Chilean domestic debt market in seven years