CGE Sells $119 Million Local Paper

Chilean energy group Compañía General de Electricidad (CGE) sold local bonds worth $119 million, Friday. The inflation-linked bonds carry a maturity of 23 years and were sold at an annual interest rate of 4.19%, representing a spread of 102 basis points above benchmark Central Bank paper. The issue was structured by BBVA Corredores de Bolsa. The bonds are rated AA by Fitch Ratings.