Entel Completes US$800 Million Senior Notes Offering and Concurrent Cash Tender Offer
09.15.21
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Simpson Thacher represented Empresa Nacional de Telecomunicaciones S.A. (“Entel”) in connection with its offering of an aggregate principal amount of US$800 million of 3.05% Senior Notes due 2032, which was conducted in reliance upon Rule 144A and Regulation S under the Securities Act. Simpson Thacher also represented Entel in its concurrent cash tender offer to purchase up to a combined aggregate principal amount of $800 million of its outstanding 4.875% Senior Notes due 2024 and 4.75% Senior Notes due 2026. Entel intends to use the net proceeds of the offering to finance or refinance, in whole or in part, Eligible Green Projects and Eligible Social Projects and, pending allocation, for the concurrent cash tender offer.
Entel is one of the largest full-service providers of telecommunications services and digital solutions in Chile and Peru, offering a range of integrated telecommunications services including mobile services and fixed-line services, in addition to call center and other services.
The Simpson Thacher team for the transaction included Juan Francisco Mendez, Alejandro de Ramon-Laca and Francisco Ducci (Capital Markets); and Jonathan Cantor and Scott Grundei (Tax).