By Wendy Van Sickle
Columbus, Ohio, Jan. 29 – Engie Energia Chile SA placed an upsized $500 million of 3.4% 10-year bonds (BBB/BBB), according to a company announcement.
The company had previously talked the issue size at $400 million, according to a ratings announcement.
Through this placement, the company said it expects to restructure a significant portion of its debt, in addition to obtaining additional funds to finance its transformation plan.
The company recently held a tender offer for its outstanding $400 million 5 5/8% bonds due 2021 (Cusip: 268270AA3), which expired at 5 p.m. ET on Jan. 22.
As of the expiration time, noteholders had tendered and not validly withdrawn $193,272,000 principal amount of bonds, as previously reported.
Formerly known as E.CL SA, Engie is an electric power distribution company based in Santiago, Chile.
| Issuer: | Engie Energia Chile SA
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| Issue: | Bonds
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| Amount: | $500 million
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| Tenor: | 10 years
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| Coupon: | 3.4%
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| Announcement date: | Jan. 24
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| Ratings: | S&P: BBB
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| Fitch: BBB
|
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