03-Nov-2008 - SQM - Sociedad Química y Minera de Chile S.A.

SQM Initiates Bond Registration Process

Sociedad Quimica y Minera de Chile S.A. (SQM) announced that its Board of Directors, at its meeting held October 28, 2008, approved the registration of a bond program. The Board approved a maximum issuance amount under the program of UF 5 million (1) (approximately US $160 million).

The bond program will consist of two lines, with each line having a maximum issuance amount of UF 5 million. The first line will have a maturity of up to 10 years, and the second line will have a maturity of up to 30 years. The aggregate combined issuance amount under these two lines may not exceed UF 5 million (or the equivalent amount in U.S. dollars).

(1) The UF (Unidad de Fomento) is an inflation-indexed, Chilean peso-denominated monetary unit. The UF rate is set daily in advance, based on the change in the Consumer Price Index of the previous month. As of October 30, 2008, UF 1 = approx.US$31.88.

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