Company: SQM
Filing Date: 2025-04-24
Form Type: 20-F
Source: 0000909037-25-000020
Chunk: 149

Company: CHEMICAL & MINING CO OF CHILE INC
Filing Date: 2025-04-24
Form: 20-F
Item: Item 5
Chunk 149
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 2012        Feb. 01, 2033        Bullet                           
                          Series P Bond — UF 3 million                           1.7                         115.6          3.25%   Mar. 31, 2018        Jan. 15, 2028        Bullet                           
                          Series Q Bond — UF 3 million                           0.3                         115.4          3.45%   Nov. 8, 2018         Jun. 1, 2038         Bullet                           
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(1)UF denominated bonds are fully hedged to U.S. dollars with cross-currency swaps. Note 12.4 b and d
As of December 31, 2024, we had total long-term financial debt of US$3,600.6 million compared to US$3,213.4 million as of December 31, 2023. The total short-term debt as of December 31, 2024, was US$1,163.5 million, and as of December 31, 2023, was US$1,256.5 million.
As of December 31, 2024, all of our long-term debt, including the current portion, was denominated in U.S. dollars, and all our UF-denominated bonds were hedged with cross-currency swaps to the U.S. dollar. The financial covenants related to our debt instruments include: (i) limitations on the ratio of NFD to equity (including non-controlling interest) on a consolidated basis, and (ii) minimum production assets. We believe that the terms and conditions of our debt agreements are standard and customary.
The following table shows the maturities of our nominal long-term debt by year as of December 31, 2024 (in millions of US dollars):

             Maturity(1)                       Amount
                    2025                   300.5     
                    2026                    56.9     
                    2027                    56.9     
                    2028                   172.5     
     2029 and thereafter                 3,515.9     
                   Total                 4,102.7     
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(1)Only the principal amount has been included. For the UF-denominated local bonds, the amounts presented reflect the real U.S. dollar obligation as of December 31, 2024 not including the effects of the cross-currency swaps that hedge these bonds to the U.S.