July 17, 2020 |
Empresa Eléctrica Cochrane, a division of the Chilean power utility company AES Gener, said it has raised $485 million in the sale of 20-year, dollar-denominated bonds.
The Santiago-based company said it will use the proceeds of the 6.25% bonds to pay off a $445 million syndicated loan from undisclosed banks and insurance companies that it took out in October 2019, according to a securities filing from Wednesday. The rest of the process will be used for working capital, it added.
In October 2019
Cochrane earmarks most of the $485 mln raised to pay off a loan