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

Shearman & Sterling represented ENGIE Energía Chile S.A. (EECL) on the deal.

ENGIE Energía Chile issued an offering of $500 million of its 3.400 percent notes due 2030 and a concurrent offer to purchase for cash 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.

ENGIE Energía Chile S.A. (EECL), a Chilean power company and subsidiary of the ENGIE group, purchases, produces, distributes and transmits electrical energy in the First and Second Regions of Chile. The Company also purchases, sells and transports liquid, solid and gaseous fuels and provides consulting services related to maintenance of electrical systems.

The Shearman & Sterling team was led by Antonia E. Stolper (Picture), Grissel Mercado, Robert Powel, Anna Shepard, Laurence Crouch, Eric Grosshandler, Daniel Kachmar and included visiting associate Sofia Gallo.

Involved fees earner: Laurence Crouch – Shearman & Sterling; Sofía Gallo – Shearman & Sterling; Eric Grosshandler – Shearman & Sterling; Daniel Kachmar – Shearman & Sterling; Grissel Mercado – Shearman & Sterling; Robert Powel – Shearman & Sterling; Anna Shepard – Shearman & Sterling; Antonia Stolper – Shearman & Sterling;

Law Firms: Shearman & Sterling;

Clients: Engie Energía Chile S.A.;

Author: Ambrogio Visconti