By Cady Vishniac
Detroit, Nov. 23 – Empresa Nacional de Autopista, SA (ENA) sold $400 million of 4% senior secured notes due 2048 (Baa1/BBB+/BBB+) on Thursday, according to a press release.
The notes were sold through issuer ENA Master Trust.
BofA Securities, Inc. and Banco General led the Rule 144A and Regulation S transaction.
Proceeds will be used to refinance bonds issued by two subsidiaries, ENA Sur and ENA Este, which are concessionaires of the Corredor Sur and Corredor Este toll roads.
The company is a Panamanian government-owned toll road operator.
| Issuer: | ENA Master Trust
|
| Amount: | $400 million
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| Maturity: | 2048
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| Description: | Senior secured notes
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| Bookrunners: | BofA Securities, Inc. and Banco General
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| Counsel: | Arnold & Porter (to issuer)
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| Coupon: | 4%
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| Settlement date: | Nov. 19
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| Ratings: | Moody’s: Baa1
|
| S&P: BBB+
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| Fitch: BBB+
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| Distribution: | Rule 144A and Regulation S
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