Andeans take the stage as Colbun draws crowd

Andeans take the stage as Colbun draws crowd

Bonds Project & Infrastructure Finance

Wooed by an order book of almost $4bn, Chilean power generator Colbun increased its 4.5% 2024 bond to $500m on Wednesday, while tightening the spread by around 30bp. Bookrunners Citi, JPMorgan, Santander and Scotiabank issued initial price thoughts of US Treasuries plus 237.5bp. They later tightened that to an official spread guidance of 210bp, plus or minus 5bp. The deal was priced at Treasuries plus 205bp, with a price of 98.615, to yield 4.675%. Strong demand from investors prompted the BBB-/

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