By Christine Van Dusen
Atlanta, Oct. 27 – Empresa Nacional del Petroleo (ENAP) priced $600 million 4 3/8% 10-year notes (Baa3/BBB-/A) at 99.328 to yield Treasuries plus 220 basis points on Monday, a market source said.
The notes were talked at a spread in the 230 bps area.
HSBC and JPMorgan were the bookrunners for the Rule 144A and Regulation S deal.
The proceeds will be used to refinance debt.
ENAP is a Las Condes, Chile-based hydrocarbon exploration, production and marketing company.
| Issuer: | Empresa Nacional del Petroleo (ENAP)
|
| Amount: | $600 million
|
| Maturity: | Oct. 30, 2024
|
| Description: | Notes
|
| Bookrunners: | HSBC, JPMorgan
|
| Coupon: | 4 3/8%
|
| Price: | 99.328
|
| Spread: | Treasuries plus 220 bps
|
| Trade date: | Oct. 27
|
| Settlement date: | Oct. 30
|
| Ratings: | Moody’s: Baa3
|
| Standard & Poor’s: BBB-
|
| Fitch: A
|
| Distribution: | Rule 144A and Regulation S
|
| Price talk: | Treasuries plus 230 bps area
|
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