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Santiago. The Chilean state oil company ENAP has placed 11-year international bonds in the amount of $ 680 million, with a yield of 5.261%, which will be used to refinance liabilities and strengthen the finances of the society.
ENAP placed the debt with a differential of 215 points on comparable US Treasury bonds. The coverage rate was 5.25%.
Bank of America Merrill Lynch, Citigroup and Scotiabank acted as investment agents.
According to information provided by the State, "the funds obtained during this placement will increase the average life of its debt, with a view to strengthening the company's financial position".
Andrés Roccatagliata, managing director of ENAP, said the operation was part of the company's plans to reduce costs, increase productivity and effectively manage cash and investments.
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