ENAP sells long-dated note

ENAP sells long-dated note

Chile Bonds

Empresas Nacional del Petroleo (ENAP) has returned to the cross-border bond market with the sale of $600m in 30-year bonds, sources told LatinFinance. The bookrunners Bank of America Merrill Lynch, Citi and JPMorgan set the initial price talk around 240bp over US Treasury notes, but high investor demand allowed them to lower the spread to 200bp by guidance and launch the deal at 195bp, sources said.The Baa3/BBB-/A 2047 notes priced at 99.13 with a 4.5% coupon to yield 4.679%,

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