Chilean court rejects Movistar abuse claim

A court in Chile has cleared telecommunications company Movistar, a Telefónica subsidiary, of breaching the country’s competition rules, after throwing out an abuse of dominance complaint.

ENAP bond offering gets super low interest rate

Shearman & Sterling LLP in New York and Garrigues (Chile) have helped Chilean state-owned energy company ENAP complete a simultaneous issuance and cash tender that achieved the company’s lowest-ever interest rate on the global capital markets.

ENAP offered bonds worth US$700 million, before completing a cash tender for old debt worth US$600 million. Cleary Gottlieb Steen & Hamilton LLP in Buenos Aires and Aninat Schwencke & Cia in Santiago advised the underwriters, while Perkins Coie in York
assisted the trustee. The issuance closed on 5 August, while the tender offer expired yesterday.

ENAP’s Argentine arm finances ArPetrol acquisition

Linklaters in New York, Severgnini Robiola Grinberg & Tombeur in Buenos Aires
and Aninat Schwencke & Cia in Santiago have helped the Argentine arm of Chilean stateowned energy company ENAP obtain a loan worth US$150 million to fund its recent
acquisition of Canadian counterpart ArPetrol.