Endesa to repurchase US$31.1mn bonds

Chilean generator Endesa (NYSE: EOC) has offered to buy back three series of bonds from May 2, the company said in advertisements in local press on Thursday. The C-2, D-1 and D-2 series were issued in 1994 and have an average remaining term of 3.3 years. The shares are denominated in the UF, Chile's index-linked financial unit, and pay interest at UF+6.8%, an Endesa spokesperson told BNamericas. The total amount to be repurchased is 1,043,872UF, the spokesperson said, equivalent to a total of some US$31.1mn at today's exchange rate. Endesa will save some US$1.4mn in 2005 through the operation, the spokesperson added.