Entel Chile has raised UF7m (US$304m) by issuing 21-year notes on the Santiago bourse as it looks to refinance debt.
The notes were initially going to offer a coupon of 3.70%, but due to high investor demand this fell 17 points to 3.53%.
IM Trust, Bice…
Entel Chile has raised UF7m (US$304m) by issuing 21-year notes on the Santiago bourse as it looks to refinance debt.
The notes were initially going to offer a coupon of 3.70%, but due to high investor demand this fell 17 points to 3.53%.
IM Trust, Bice Inversiones and Banchile were underwriters on the offering, which was over-subscribed almost twice over. Entel said the notes were rated AA-by Fitch Ratings and AA + by local agency ICR.
The telco last tapped the debt market last October when it sealed its first foreign bond after selling US$1bn notes in New York with the help of Citigroup and HSBC.
Entel brought in US$3bn in revenue last year and offers mobile, fixed-line and broadband services. It expanded its operations outside of Chile last year with the US$400m-plus purchase of Nextel’s operations in neighbouring Peru.
