ENAP retires short-term debt with new notes

ENAP retires short-term debt with new notes

Corporate & Sovereign Strategy Bonds Debt Fixed Income Chile Capital Markets Oil

Chile's state-owned oil company Empresa Nacional del Petroleo (ENAP) sold $560 million worth of 10-year bonds on Thursday, raising money to fund the buyback of up to $410 million in outstanding 2021 notes, a source involved in the deal told LatinFinance. The 2031 bonds carried a coupon of 3.45% and priced at 99.648 to yield 3.492%, or 220 basis points over US Treasury bonds, the source said. ENAP started the initial price talk around 205 basis points over US Treasury bonds and put guidance at 22

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