Chile plans to sell up to $19 billion in green bonds in 2021 of which $12.8 billion will correspond to new issues, while the rest will be used to refinance existing debt. The amount of the new debt is similar to what the Chilean Treasury issued in 2020.
Despite the impact of COVID-19, all Chilean pension funds managed to perform positively in 2020. So far in 2020 (until 27 December), positive results have been recorded for all the multifunds. The A and B funds recorded gains of 0.74% and 2.53% respectively, while the C fund showed a variation of 3.56%. On the other hand, D income 3.49% and E 4.11%.
San Antonio International Terminal (STI) concluded the negotiation process and agreed on a new investment plan with Puerto San Antonio that will enable it to extend the concession for five more years. The award will continue until 2030 and about $44.3 million will be invested in improvements. The agreement considers replacing the construction of an esplanade which will allow improvement of ITS conditions in three axes (quay, yard and gate), increasing capacity by nearly 30%. Investments are expected to start in 2021.
The Chilean startup Betterfly closed a new round of investment for $9 million, which also adds $17.5 million to the total capital raised as part of its Series A. The investment round was led by US fund QED Investors.
A Chilean environmental court approved an agreement between state-owned copper miner Codelco and the government to remedy sustained water overuse by its Salvador mine. The government said that Codelco had overdrawn water from the northern Pedernales salt flat without considering its regeneration capacity. Codelco will now be required to recharge the Pedernales aquifer, conduct water studies both in the salt flat & river basins around it, establish better dialogue with parties in the area and restore 60 hectares of high Andean plains.