Colbun Launches 5-Year Loan

Chilean power generation company Colbun is in the market sounding a 5 year $150m loan at Libor plus 150bp through BBVA and Santander. An investor relations official at the borrower declines to comment. Colbun signed a $400m 5-year syndicated loan through ABN, BBVA, Citi, Itau and Santander in 2008. It raised $500m via its first dollar bond sale in January this year, at a 2020 maturity. The deal was more than 5x oversubscribed and came at 98.973 with a 6.000% coupon to yield 6.139%, or UST plus 237.5bp, well inside 262.5bp area guidance.