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The Chilean arm of French energy company Engie sold CHF190 million ($224 million) worth of five-year green bonds in the Swiss market on Thursday, according to a source familiar with the deal.
Engie Energía Chile priced the 2029 notes at par to yield 2.1275%, or 150 basis points over the Swiss average rate overnight, or SARON. It opened initial price talk between 150 and 160 basis points and set guidance in the 150 basis point area before launching the deal at the same rate, the source said.
BNP Paribas and UBS were joint bookrunners on the offering, the source added. S&P Global assigned the notes a BBB rating.
“The company will use the proceeds to continue investing in new renewable assets, aiming to lower its carbon dioxide emissions and to reduce its average supply cost while further diversifying its generation matrix,” S&P said in a report.
Engie Energía Chile raised $500 million in its first-ever sale of green notes in the international market in April to fund a tender offer for its 4.5% 2025 bonds.
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Publish date : 2024-08-30 08:28:00
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