Shearman And Sterling

News Jan 30, 2020

Engie Energía Chile’s $500 Million Notes Offering and Tender Offer

Shearman & Sterling represented ENGIE Energía Chile S.A. (EECL), a Chilean power company and subsidiary of the ENGIE group, in connection with an offering by EECL of $500 million of its 3.400 percent notes due 2030 and a concurrent offer to purchase for cash made by EECL for its 5.625 percent notes due 2021. BofA Securities, Inc., Citigroup Global Markets Inc. and Scotia Capital (USA) Inc. acted as global coordinators and joint-book-running managers and MUFG Securities Americas Inc. and Santander Investment Securities Inc. acted as co-managers for the offering. BofA Securities, Inc., Citigroup Global Markets Inc. and Scotia Capital (USA) Inc. acted as dealer managers for the concurrent cash tender offer.

EECL used the net proceeds from the offering to fund the concurrent cash tender offer and intends to use the remainder to redeem the aggregate principal amount outstanding of its 5.625 percent notes due 2021 that were not tendered in the tender offer, and for general corporate purposes, including the working capital needs of its subsidiaries.

The Shearman & Sterling team below included visiting associate Sofia Gallo.

The Team