ENAP Closes in on Domestic Bond

ENAP will look to issue about $300m-equivalent in Chile’s local market January 17, say people familiar with the Chilean state-owned oil company’s plans. The issuer can choose among a 3-year bullet in pesos at 6.4%, a 5-year bullet in UF at 3.4%, and a 21-year bullet in UF at 3.7%. Banchile-Citi, JPMorgan and Scotia are managing the sale, rated AAA/AA+ on a national scale. So far, the longer series is heard to be of the most interest, though final decisions have yet to be made. Sodimac is set to raise up to UF2.5m Thursday, as Chilean issuers look to get out ahead of the traditional February market slowdown.