Chilean incumbent Entel has placed its second bond this month, issuing US$800m in dollar-denominated securities following a US$304m domestic peso bond.
The dollar notes carry a 4.75% coupon and priced at 99.73 to yield 4.76%. Half of the debt matures in…
Chilean incumbent Entel has placed its second bond this month, issuing US$800m in dollar-denominated securities following a US$304m domestic peso bond.
The dollar notes carry a 4.75% coupon and priced at 99.73 to yield 4.76%. Half of the debt matures in 2025 and the other half in 2026.
Entel’s offering followed road shows in Los Angeles, Chicago, Boston, New York and London. JP Morgan and Santander led the offering, and demand topped US$2bn.
Entel’s CFO, Felipe Ureta, said the interest reflected the confidence international investors had in the company. The new issue was rated Baa2 by Moody’s, BBB by S&P and BBB+ by Fitch.
The financing marks Entel’s second international bond sale. It sealed its first foreign bond last October, issuing 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.
