Chile’s E-CL launches $350 million 10-year notes at Treasuries plus 230 bps; pricing Friday

By Christine Van Dusen

Atlanta, Oct. 24 – Chile’s E-CL SA launched a $350 million offering of notes due January 2025 (expected ratings: /BBB/BBB) at Treasuries plus 230 basis points, a market source said.

The notes were talked at a spread in the 250 bps area.

BofA Merrill Lynch, Citigroup, HSBC, BTG Pactual and Credit Agricole CIB are the bookrunners for the Rule 144A and Regulation S deal.

The notes are expected to price on Friday.

The proceeds will be used for the repayment of outstanding project financing loans and costs arising from the early termination of related interest-rate swaps.

E-CL is a Santiago, Chile, holding company with assets in electricity and natural gas.

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