Chicago, Sept. 10 – Chile’s Empresa Nacional de Telecommunicaciones SA (Entel) sold $800 million of sustainable bonds (BBB-/BBB-) due 2032, according to a notice from the company.
The notes priced with a spread of Treasuries plus 175 basis points, a market source added. Talk has been in the low 200 bps area.
The Rule 144A and Regulation S notes will be used for eligible green and eligible social projects, and also to fund the tender offer for the company’s 4 7/8% notes due 2026.
BNP Paribas Securities Corp. and J.P. Morgan Securities LLC were bookrunners.
The issuer is a Santiago-based telecommunications company.
Clarification: An earlier story referred to the issue as a second tranche of notes from Entel. Entel only placed one bond during the week.
| Issuer: | Empresa Nacional de Telecommunicaciones SA (Entel)
|
| Issue: | Sustainable bonds
|
| Amount: | $800 million
|
| Maturity: | Sept. 14, 2032
|
| Bookrunners: | BNP Paribas Securities Corp. and J.P. Morgan Securities LLC
|
| Coupon: | 3.05%
|
| Spread: | Treasuries plus 175 bps
|
| Trade date: | Sept. 9
|
| Ratings: | S&P: BBB-
|
| Fitch: BBB-
|
| Distribution: | Rule 144A and Regulation S
|
| Price talk: | Treasuries plus low 200s area
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
