By Paul A. Harris
St. Louis, Nov. 19 - Enersis SA priced an upsized $350 million of 7 3/8% senior notes due Jan. 15, 2014 (Ba2/BB+) Wednesday at 99.505 to yield 7.442% or 325 basis points over Treasuries, according to a market source.
The deal was increased from $300 million. It was launched at a spread in the 325 basis points area.
Deutsche Bank Securities, BDVA and Santander were bookrunners for the Rule 144A deal.
Proceeds will be used to partially repay the company's $1.5 billion term loan.
The issuer is a Santiago, Chile energy company.
| Issuer: | Enersis SA
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| Amount: | $350 million (increased from $300 million)
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| Maturity: | Jan. 15, 2014 (10 years)
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| Security description: | Senior notes
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| Bookrunners: | Deutsche Bank Securities, BDVA, Santander
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| Coupon: | 7 3/8% (long first coupon, first payment July 15, 2004)
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| Price: | 99.505
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| Yield: | 7.442%
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| Spread: | 325 basis points
|
| Settlement date: | Nov. 24
|
| Ratings: | Moody's: Ba2
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| Standard & Poor's: BB+
|
| Guidance: | Launched at 325 basis points area
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