By Christine Van Dusen
Atlanta, Aug. 5 - Chile's La Empresa Nacional del Petroleo (ENAP) priced $500 million 5¼% notes due 2020 (expected rating //A) at 99.593 to yield 5.303%, or Treasuries plus 240 basis points, according to an informed market source.
Bank of America Merrill Lynch, Banco Bilbao Vizcaya Argentaria, BNP Paribas and Scotia Capital were the bookrunners for the Rule 144A and Regulation S deal.
Proceeds will be used to refinance short-term debt.
ENAP is a state-owned oil and gas company based in Santiago, Chile.
| Issuer: | La Empresa Nacional del Petroleo
|
| Amount: | $500 million
|
| Maturity: | 2020
|
| Description: | Notes
|
| Bookrunners: | Bank of America Merrill Lynch, Banco Bilbao Vizcaya Argentaria, BNP Paribas, Scotia Capital
|
| Coupon: | 5¼%
|
| Price: | 99.593
|
| Yield: | 5.303%
|
| Spread: | Treasuries plus 240 bps
|
| Trade date: | Aug. 5
|
| Settlement date: | Aug. 10
|
| Expected rating: | Fitch: A
|
| Distribution: | Rule 144A and Regulation S
|
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