Volkswagen, Daimler, BASF & Fairphone launch sustainable lithium initiative

Volkswagen, Daimler, BASF and Fairphone have initiated a partnership for sustainable lithium mining in Chile. The "Responsible Lithium Partnership" aims to promote the responsible use of natural resources, including lithium, in Chile's Salar de Atacama. The four initiators have commissioned the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) to coordinate the partnership and set up a so-called multi-stakeholder platform comprising all relevant actors in the Salar watershed – from civil society groups, including indigenous communities, to government institutions and mining companies. According to Volkswagen, the “Responsible Lithium Partnership” started in spring 2021 and has a planned duration of two and a half years. 

LATAM Airlines seeks extension of deadline for restructuring plan

LATAM Airlines Group said that it had sought to extend the deadline to present its restructuring plan as part of the bankruptcy protection process initiated in 2020 until September. LATAM filed for bankruptcy protection in the United States in May of last year, hammered by the world travel crisis generated by COVID-19. A judge had previously ordered the company deliver its restructuring plan by the end of June, and the company has said it hopes to wrap up the process in 2021.

Santander Chile returns to the Swiss market with a successful transaction of $167 mn

Santander Chile goes back to international markets and successfully issues CHF 150 million ($167 million) Senior Notes due in 2027, with a spread of 62 basis points above the Mid-Swap, which is equivalent to a coupon of 0.33%. The transaction was carried out with the advisory of Credit Suisse AG and Commerzbank AG. This signifies a return of the Bank to the international public debt market since January 2020 and is the first operation of Santander Chile in Switzerland since August 2019.

Chile extends economic aid to families to September

President Piñera approved a law to give families the economic aid to alleviate the impact of the pandemic until September. This will reach 100% of those registered in the Social Registry of Households (RSH) and will benefit 15.1 million people. A one-person household will be paid $177,000, a 3-person household will receive $400,000 and a 4-person household will get $500,000. This is from June to August. In September, beneficiaries will receive 50% of the amount.