Codelco Returns to Global Debt Market as Copper Prices Rally

Codelco is tapping global bond markets for the first time this year as copper prices reach record highs.

The state-owned copper miner is tapping an existing line of notes due 2053, of which they originally sold $1.2 billion worth in 2023. The company is also selling bonds due 2037. Initial price talk for both notes is 165 basis points above Treasuries.