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Endesa Chile to refinance bond with $400 mln loan

Tue Jun 24, 2008 11:26am EDT

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SANTIAGO, June 24 (Reuters) - Chile's leading electricity generator, Endesa Chile END.SN(EOC.N), will use a newly acquired syndicated loan of $400 million to refinance a 1998 bond issue maturing in July, the company said on Tuesday.

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The bond, issued in the U.S market, has a face value of $400 million.

Endesa Chile, a regional affiliate of Endesa Spain's (ELE.MC) investment group Enersis ENE.SN, said half of the loan would be a revolving line of credit, and the remainder would be a six-year loan with a single amortization payment at maturity.

"With this loan the company will generate a savings of $9.5 million per year," Endesa Chile said in a statement. (Reporting by Rodrigo Martinez, Writing by Lisa Yulkowski; editing by John Wallace)

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