Chicago, Sept. 8 – Chile’s Empresa Nacional de Telecommunicaciones SA (Entel) sold $500 million of 3.83% 40-year notes (BBB-/BBB-) at a Treasuries plus 185 basis points spread, a market source told Prospect News.
The notes had been talked in the Treasuries plus 210 bps area.
BNP Paribas Securities Corp., J.P. Morgan Securities LLC and Scotia Capital (USA) Inc. were bookrunners.
Proceeds, according to Fitch Ratings, will be used to finance eligible green and social projects and to refinance 2024 and 2026 senior notes.
The issuer is a Santiago-based telecommunications company.
| Issuer: | Empresa Nacional de Telecommunicaciones SA (Entel)
|
| Issue: | Senior notes
|
| Amount: | $500 million
|
| Maturity: | Sept. 14, 2061
|
| Bookrunners: | BNP Paribas Securities Corp., J.P. Morgan Securities LLC and Scotia Capital (USA) Inc.
|
| Coupon: | 3.83%
|
| Spread: | Treasuries plus 185 bps
|
| Trade date: | Sept. 7
|
| Ratings: | S&P: BBB-
|
| Fitch: BBB-
|
| Price talk: | Treasuries plus 210 bps area
|
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