ENAP’s $680 Million Notes Offering

Morales & Besa advised on the deal

Empresa Nacional del Petróleo (ENAP), a Chilean state-owned enterprise, in connection with its Rule 144A/Regulation S offering of $680 million notes. The notes pay interest at a rate of 5.25% per annum due 2029.

Citigroup Global Markets Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated and Scotia Capital (USA) Inc. acted as underwriters on the offering.

ENAP is engaged in broad range of petroleum-related activities, including the exploration, development and production of crude oil and natural gas, the transportation and storage of crude oil, refined petroleum products, liquefied petroleum gas and natural gas, petroleum refining and the wholesale marketing of refined petroleum products, petroleum derivatives, liquefied petroleum gas, crude oil and natural gas.

Morales & Besa advised the underwriters with a team including Guillermo Morales (Picture), Paloma Infante, Jaime Rosso and Josefa Rodriguez.

Involved fees earner: Guillermo Morales – Morales & Besa; Josefa Rodríguez – Morales & Besa; Paloma Infante M. – Morales & Besa; Jaime Rosso G. – Morales & Besa;

Law Firms: Morales & Besa;

Clients: Citigroup Global Markets Ltd; Merrill Lynch, Pierce, Fenner & Smith Incorporated; Scotia Capital Inc.;

Author: Ambrogio Visconti.