By Christine Van Dusen
Atlanta, Nov. 21 – Chile-based Empresa Electrica Angamos SA priced an $800 million issue of 4 7/8% notes due May 25, 2029 (expected ratings: Baa3//BBB-) at 98.528 to yield 5.086%, or Treasuries plus 275 basis points, a market source said.
The notes were talked at a spread of Treasuries plus a high-200 bps to 300 bps.
Citigroup, HSBC, JPMorgan, Itau, Scotia Capital and Sumitomo were the bookrunners for the Rule 144A and Regulation S deal.
The amortizing bond will have a 9.3-year average life, with a 3˝-year grace period before amortization begins.
The issuer is a Santiago-based thermal power plant operator and subsidiary of Inversiones Nueva Ventanas SA.
| Issuer: | Empresa Electrica Angamos SA
|
| Amount: | $800 million
|
| Maturity: | May 25, 2029
|
| Description: | Notes
|
| Bookrunners: | Citigroup, HSBC, JPMorgan, Itau, Scotia Capital, Sumitomo
|
| Coupon: | 4 7/8%
|
| Price: | 98.528
|
| Yield: | 5.086%
|
| Spread: | Treasuries plus 275 bps
|
| Trade date: | Nov. 21
|
| Settlement date: | Nov. 25
|
| Expected ratings: | Moody’s: Baa3
|
| Fitch: BBB-
|
| Distribution: | Rule 144A and Regulation S
|
| Price talk: | Treasuries plus high-200 bps to 300 bps
|
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