By Cristal Cody
Chicago, Jan. 21 – Chile’s Sociedad de Transmision Austral SA sold $390 million of 4% 10-year notes (Baa2//BBB) with a Treasuries plus 250 basis points spread, according to a market source.
Pricing came wide to talk in the low 200 bps area over Treasuries.
Itau Unibanco and Scotiabank were bookrunners for the notes with distribution under Rule 144A and Regulation S.
Proceeds will be used for a debt refinancing associated to a reorganization process, according to Fitch Ratings.
The Osorno, Chile-based company operates in the electric power sector.
| Issuer: | Sociedad de Transmision Austral SA
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| Amount: | $390 million
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| Issue: | Green notes
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| Maturity: | Jan. 27, 2032
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| Bookrunners: | Itau Unibanco and Scotiabank
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| Coupon: | 4%
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| Spread: | Treasuries plus 250 bps
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| Trade date: | Jan. 21
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| Ratings: | Moody’s: Baa2
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| Fitch: BBB
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| Distribution: | Rule 144A and Regulation S
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| Price talk: | Treasuries plus low 200 bps area
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| ISINs: | US83364AAA16, USP87163AA27
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