October 25, 2013
CGE Distribucion has sold UF4m ($184m) in 21-year bonds, according to perso
CGE Distribucion has sold UF4m ($184m) in 21-year bonds, according to person following the operation. The electricity and gas-focused subsidiary of Chile’s Compania General de Electricidad chose the 2034 tranche while disregarding two possible 5-year options. The bonds priced at 99.43 with a 3.85% coupon to yield 3.89%, or 145bp wide to government bonds. Proceeds are being used to refinance bank debt. BBVA managed the sale, rated AA/A+ on a national scale.