The Chilean arm of French energy company Engie returned to the international bond market on Wednesday to raise $500 million in its first-ever sale of green notes, a source familiar with the deal told LatinFinance.
Engie Energía Chile priced the 6.35% 2034 notes at 98.947 to yield 6.52%, or 197 basis points over US Treasuries. It opened the initial price talk earlier in the day at around 225 basis points and set guidance in the area of 200, plus or minus three basis points, the source said.
JPMorgan, Santander and Scotiabank were joint bookrunners on the Rule 144A/Reg S, the source added. Fitch and S&P both rate the notes BBB.
Engie Energía Chile plans to use the proceeds to fund a tender offer underway and the rest for investments. Wednesday’s deal marks the firm’s first cross-border deal in four years.