Linklaters Advises BofA, Itau BBA, J.P. Morgan, Santander, and Scotia on ENAP’s US$600 Million Bond Issuance

Linklaters represented BofA Securities, Inc., Itau BBA USA Securities, Inc., J.P. Morgan Securities LLC, Santander US Capital Markets LLC, and Scotia Capital (USA) Inc. in connection with Empresa Nacional del Petróleo’s (ENAP) offering of $600 million 5.950% Notes due 2034 under Regulation S and Rule 144A, and the concurrent tender offers for any and all of its 3.750% Notes due 2026, and capped tender offer of its 3.450% Notes due 2031.

ENAP is a state enterprise wholly owned by the Republic of Chile. It is engaged in a broad range of petroleum-related activities, including the exploration, development, and production of crude oil and natural gas; the transportation and storage of crude oil, refined petroleum products, liquefied petroleum gas (LPG), and natural gas; petroleum refining; and the wholesale marketing of refined petroleum products, petroleum derivatives, LPG, crude oil, and natural gas.

The Linklaters team was led by partners Conrado Tenaglia and Matthew Poulter and counsel Emilio Minvielle, alongside associates Juan Mata and Gabrielle Quintana. Additional tax assistance for the deal was provided by partner Gabriel Grossman and associates Allan Talde and Young Jin Kim.