By Christine Van Dusen
Atlanta, July 18 – Chile’s Empresa Nacional de Telecommunicaciones SA (Entel) priced an $800 million issue of 4¾% notes due Aug. 1, 2026 (expected ratings: Baa2/BBB/BBB+) at 99.763 to yield Treasuries plus 230 basis points, a market source said.
JPMorgan and Santander are the bookrunners for the Rule 144A and Regulation S deal.
The proceeds will be used to refinance existing debt and for general corporate purposes.
The issuer is a Santiago-based telecommunications company.
| Issuer: | Empresa Nacional de Telecommunicaciones SA (Entel)
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| Description: | Senior notes
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| Amount: | $800 million
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| Maturity: | Aug. 1, 2026
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| Coupon: | 4¾%
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| Price: | 99.763
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| Spread: | Treasuries plus 230 bps
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| Bookrunners: | JPMorgan, Santander
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| Trade date: | July 17
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| Settlement date: | July 22
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| Expected ratings: | Moody’s: Baa2
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| Standard & Poor’s: BBB
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| Fitch: BBB+
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| Distribution: | Rule 144A/Regulation S
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