CGE Generates UF Bond Demand

Chilean power company Compania General de Electricidad (CGE) has issued UF2m ($89m) in 21-year bonds via a Dutch auction, getting 2.5x in demand, says a banker on the deal. The notes priced at 99.27 with a 4.00% coupon to yield 4.05%, or 92bp over the BCU-20 benchmark. Proceeds from the AA minus/A+ notes will be used to refinance debt. BBVA led the issue.