ENAP Plots Bond Return

ENAP Plots Bond Return

Chile

Chilean state-owned oil and gas utility ENAP has received pitches from bankers for a $500m bond of up to 10 years maturity. Those who participated in the RFP process say ENAP could get a deal done in January, as long as it is willing to pay at least 100bp concession. Others say that a slew of US data will make the first month of 2009 very challenging for deals, many of which might have to wait until February or later. ENAP was last in the market in 2004, so it should benefit from scarcity value

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