Chilean Tightens in Bond Return
Transelec returned to the international markets to raise a $300m 2023 bond, getting $900m demand from 44 accounts and showing that the market remains open for investment-grade issuers. The Baa1/BBB minus Chilean electric transmission operator priced at 99.336 with a 4.625% coupon to yield 4.709% or UST+220bp, the tight end of 225bp (+/- 5bp) guidance that came in...
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