Chicago, Sept. 10 – Chile’s Empresa Nacional de Telecommunicaciones SA (Entel) sold $800 million of sustainable bonds (BBB-/BBB-) due 2032, according to a notice from the company.
The notes priced with a spread of Treasuries plus 175 basis points, a market source added. Talk has been in the low 200 bps area.
The Rule 144A and Regulation S notes will be used for eligible green and eligible social projects, and also to fund the tender offer for the company’s 4 7/8% notes due 2026.
BNP Paribas Securities Corp. and J.P. Morgan Securities LLC were bookrunners.
The issuer is a Santiago-based telecommunications company.
Clarification: An earlier story referred to the issue as a second tranche of notes from Entel. Entel only placed one bond during the week.
Issuer: | Empresa Nacional de Telecommunicaciones SA (Entel)
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Issue: | Sustainable bonds
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Amount: | $800 million
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Maturity: | Sept. 14, 2032
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Bookrunners: | BNP Paribas Securities Corp. and J.P. Morgan Securities LLC
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Coupon: | 3.05%
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Spread: | Treasuries plus 175 bps
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Trade date: | Sept. 9
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Ratings: | S&P: BBB-
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| Fitch: BBB-
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Distribution: | Rule 144A and Regulation S
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Price talk: | Treasuries plus low 200s area
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