By Christine Van Dusen
Atlanta, April 24 – Empresa Electrica Guacolda SA priced a $500 million issue of 4.56% 10-year notes (expected ratings: /BBB-/BBB-) on Thursday at 99.944 to yield 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, Itau BBA and Scotiabank were the bookrunners for the Rule 144A and Regulation S deal.
The proceeds will be used to repay existing debt, for swap breakage costs and for transaction fees and expenses.
The issuer is a Santiago-based power company.
| Issuer: | Empresa Electrica Guacolda SA
|
| Amount: | $500 million
|
| Maturity: | April 30, 2025
|
| Description: | Senior notes
|
| Bookrunners: | Citigroup, Goldman Sachs, Itau BBA, Scotiabank
|
| Coupon: | 4.56%
|
| Price: | 99.944
|
| Spread: | Treasuries plus 262.5 bps
|
| Trade date: | April 23
|
| Settlement date: | April 30
|
| Expected ratings: | Standard & Poor’s: BBB-
|
| Fitch: BBB-
|
| Distribution: | Rule 144A and Regulation S
|
| Price talk: | Treasuries plus 300 bps area
|
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