Chile’s Guacolda launches $500 million 10-year notes at 262.5 bps over Treasuries

By Christine Van Dusen

Atlanta, April 23 – Chile’s Empresa Electrica Guacolda SA launched a $500 million offering of 10-year notes (expected ratings: /BBB-/BBB-) at Treasuries plus 262.5 basis points, a market source said.

The notes were talked at a spread in the 300 bps area.

Citigroup, Goldman Sachs and Itau BBA are the bookrunners for the Rule 144A and Regulation S deal.

The proceeds will be used to repay existing debt, to swap breakage costs and transaction fees and for expenses.

The notes will include a make-whole call and a three-month par call prior to maturity.

The issuer is a Santiago-based power company.

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