By Aleesia Forni
Virginia Beach, April 10 - Chile's Empresa Nacional de Electricidad SA (Endesa Chile) sold $400 million of 4.25% 10-year notes (Baa2/BBB+/BBB+) at Treasuries plus 175 basis points on Thursday, according to a FWP filed with the Securities and Exchange Commission.
The debt priced at 98.98 to yield 4.377%.
The notes at the tight end of guidance, which was set at Treasuries plus 200 bps.
BBVA Securities Inc. and J.P. Morgan Securities LLC were the bookrunners.
The proceeds will be used for general corporate purposes.
The issuer is a generator and supplier of electricity and is based in Santiago.
| Issuer: | Empresa Nacional de Electricidad SA
|
| Amount: | $400 million
|
| Description: | Senior notes
|
| Maturity: | April 15, 2024
|
| Bookrunners: | BBVA Securities Inc., J.P. Morgan Securities LLC
|
| Coupon: | 4.25%
|
| Price: | 98.98
|
| Yield: | 4.377%
|
| Spread: | Treasuries plus 175 bps
|
| Make-whole call: | Treasuries plus 25 bps prior to Jan 15, 2024, then callable at par
|
| Trade date: | April 10
|
| Settlement date: | April 15
|
| Ratings: | Moody's: Baa2
|
| Standard & Poor's: BBB+
|
| Fitch: BBB+
|
| Price talk: | Treasuries plus 200 bps
|
| Distribution: | SEC-registered
|
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