Entel goes big with bond sale

Entel goes big with bond sale

Bonds

Chilean telecom Entel raised UF7m ($304m) on Thursday in one of the largest deals sold in the country’s local market in recent years. The 3.5% 2035 bond was priced at 99.53 to yield 3.53%, or 144bp over government bonds. Demand was more than 1.6 times for the sale. The size of the deal overshadows other transactions this year in Chile’s bond market. BancoEstado was the most recent borrower to tap local investors on a similar scale, with a UF5m deal in June. Entel’s deal could entice more corpora

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