Chile’s Entel Preps $600m Loan

Chilean telecom company Entel is out with a $600m facility to take out a previous line for the same amount which was led by JPMorgan. The old facility is tied to a leverage grid, with a current margin of 42.5bp over Libor, according to a banker away from the deal. Entel was in discussion with several banks, but Citi and ABN AMRO are heard to have been awarded lead roles on the new facility, bank market sources say.