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ENAP on Tuesday made a $ 680 million bond offering on the international market in New York. The investment rate was 5.261%, with a difference of 215 basis points from the benchmark reference rate (10-year Treasury bonds), while the hedge rate was 5.25%.
this issue has a duration of eleven years, which reflects the market confidence in ENAP. Bank of America Merrill Lynch, Citigroup and Scotiabank
acted as placement agents.According to information provided by the state, the funds obtained through this placement will extend the term debt, in order to strengthen its financial position.
Andrés Roccatagliata, CEO of ENAP, said he was satisfied with the success of the placement, while highlighting the interest of investors. "The result of this transaction reflects the international market's confidence in ENAP, in its new governance, as well as investor support for the company's optimization plan, which aims to reduce costs. , to increase productivity and management of cash and investments, objectives that we strive for strongly as an administration and consulting ".
In addition to explaining that the US $ 680 million obtained through the Offering will be fully used to refinance short-term liabilities, Mr. Roccatagliata added that "we are committed to improving and being more operational and financial, responsible for our business plan, with a focus on sustainability and the future of society. "
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