ENAP Signs USD 300 Million Loan, Chile

Empresa Nacional del Petróleo (ENAP) signed a loan for U.S. $ 300 million with a group of banks comprised of Bank of America, Citibank, JP Morgan Chase Bank and Scotiabank.

Each of these institutions will be a creditor in the amount of $ 75 million.

The role of administrative agent of the financing agreement for the duration thereof shall be carried out by Bank of America. The funds will be used to refinance the existing debt and payment of expenses associated with the operation. The loan was signed to a three-year term and will be payable in a single repayment at the end of the period (bullet).

With this issue, ENAP confirms its fluid access to debt markets, showing consistent support from the international financial community to ENAP’s the management and the role it plays in the Chilean economy.

[mappress]
LNG World News Staff, November 07, 2012; Image: Enap