ENAP Refinancing Up To $500m

Chile’s state oil company ENAP says it plans to refinance up to $500m in short-term debt by issuing bonds or signing a loan. It is awaiting authorization from the finance ministry. However, the company adds that it is not in the process of issuing international bonds, despite a recent local press report to the contrary. ENAP notes that any new issue needs the approval of the company’s board as well as the country’s finance and economy ministries. It adds that the board has given its assent to debt refinancing and the request to begin the process was approved by the finance ministry June 22.