E-CL Clinches Bond

E-CL Clinches Bond


Chile’s E-CL has joined the list of LatAm issuers looking to tie up deals before year-end, raising $400m in 2021 notes. The company, formerly known as Edelnor and controlled by GDF Suez, drew $1.25bn in orders on the BBB minus rated bonds, according to bankers on the deal. The 5.625% coupon priced at 98.432 to yield 5.832%, or UST plus 260bp, the tight end of UST plus 260bp-270bp guidance. The bond traded 30bp tighter in the aftermarket, according to investors. One US-based investor says the iss

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