CGE Sells $113m in Local Bonds

Chilean power company Compania General de Electricidad (CGE) has issued UF-denominated local bonds worth $113.7m at 3.49%. Proceeds will fund part of CGE’s $660m acquisition of Empresas Emel, from PPL Corp. Earlier this week, CGE obtained two loans from BBVA totaling $517m, also to finance the purchase.