Colbún buys back 53% of its 2027 notes for $266mn

Chilean power producer Colbún has completed its cash tender offer for 3.950% notes due 2027, repurchasing more than half of the outstanding amount for a total of $266mn.

Share:

Comprehensive energy news coverage, updated nonstop

Annual subscription

8.25$/month*

*billed annually at 99$/year for the first year then 149,00$/year ​

Unlimited access • Archives included • Professional invoice

OTHER ACCESS OPTIONS

Monthly subscription

Unlimited access • Archives included

5.2$/month*
then 14.90$ per month thereafter

FREE ACCOUNT

3 articles offered per month

FREE

*Prices are excluding VAT, which may vary depending on your location or professional status

Since 2021: 35,000 articles • 150+ analyses per week

Colbún S.A., a power generation company based in Chile, announced the expiration of its cash tender offer for all of its 3.950% fixed-rate notes due in 2027. The offer, launched in early September, closed on September 9 at 5:00 p.m. New York time, with a total of $266.3mn in notes repurchased, representing 53.26% of the outstanding principal.

Unchanged repurchase terms with no extension

The terms of the offer remained as outlined in the offer document dated September 3, with no extensions or amendments. Colbún offered a purchase price of $1,000.50 per $1,000 in principal value, in line with prevailing market conditions for this type of operation. No guaranteed delivery notices were submitted before the deadline, indicating that all notes repurchased were tendered directly before expiration.

The company expects to settle validly tendered and not withdrawn notes on or around September 11. The payment will include the purchase price and accrued and unpaid interest up to the expiration date, in accordance with the offer terms. The process is being managed by Global Bondholder Services Corporation, acting as the tender and information agent.

A debt management strategy with international scope

This transaction is part of Colbún’s proactive debt management strategy aimed at optimising its liability structure. Although the offer was denominated in US dollars, it involved securities issued in international markets, reinforcing the company’s presence on North American financial platforms.

Under the conditions outlined in the offer documentation, Colbún reserves the right to amend or terminate the transaction at its sole discretion, subject to applicable laws. No regulatory authority, either in the United States or internationally, has approved or rejected the terms of the transaction.

No immediate regulatory implications

No prior approval was required from the United States Securities and Exchange Commission or other equivalent authorities. The company has not disclosed whether it will follow this transaction with a new bond issuance or targeted refinancing.

All remaining notes remain outstanding under their original contractual terms. Colbún has not announced any overall debt reduction targets at this time.

The Italian industrial cable manufacturer posted revenue above €5bn in the third quarter, driven by high-voltage cable demand, and adjusted its 2025 guidance upward.
The Thai group targets energy distributors and developers in the Philippines, as the national grid plans PHP900bn ($15.8bn) in investments for new transformer capacity.
Scatec strengthened growth in the third quarter of 2025 with a significant debt reduction, a rising backlog and continued expansion in emerging markets.
The French industrial gas group issued bonds with an average rate below 3% to secure the strategic acquisition of DIG Airgas, its largest transaction in a decade.
With a 5.6% increase in net profit over nine months, Naturgy expects to exceed €2bn in 2025, while launching a takeover bid for 10% of its capital and engaging in Spain’s nuclear debate.
Austrian energy group OMV reported a 20% increase in operating profit in Q3 2025, driven by strong performance in fuels and petrochemicals, despite a decline in total revenue.
Equinor reported 7% production growth and strong cash flow, despite lower hydrocarbon prices weighing on net results in the third quarter of 2025.
The former EY senior partner joins Boralex’s board, bringing over three decades of audit and governance experience to the Canadian energy group.
Iberdrola has confirmed a €0.25 per share interim dividend in January, totalling €1.7bn ($1.8bn), up 8.2% from the previous year.
A new software developed by MIT enables energy system planners to assess future infrastructure requirements amid uncertainties linked to the energy transition and rising electricity demand.
Noble Corporation reported a net loss in the third quarter of 2025 while strengthening its order backlog to $7.0bn through several major contracts, amid a transitioning offshore market.
SLB, Halliburton and Baker Hughes invest in artificial intelligence infrastructure to offset declining drilling demand in North America.
The French energy group announced the early repayment of medium-term bank debt, made possible by strengthened net liquidity and the success of recent bond issuances.
Large load commitments in the PJM region now far exceed planned generation capacity, raising concerns about supply-demand balance and the stability of the US power grid.
The termination of a strategic contract with Dutch grid operator TenneT triggered the administration of Petrofac’s holding company, reigniting tensions with creditors.
Algeria has removed Rachid Hachichi from the leadership of Sonatrach, two years after his appointment, replacing him with Noureddine Daoudi, former head of the National Agency for the Valorisation of Hydrocarbon Resources.
Portugal’s Galp Energia reported an adjusted net profit of €407 million in Q3, driven by higher refining margins and strong contribution from liquefied natural gas.
Air Liquide signs agreement to acquire NovaAir, strengthening its presence in India’s industrial gas market by expanding its national footprint.
Voltalia's Q3 2025 revenue rises to €164.7mn, fuelled by a sharp increase in services activity, while energy sales decline due to currency effects and lower prices.
Altano Energy secured €81mn ($85.7mn) to construct two onshore wind farms and three photovoltaic plants in southern Spain, reinforcing its multi-technology generation strategy.

All the latest energy news, all the time

Annual subscription

8.25$/month*

*billed annually at 99$/year for the first year then 149,00$/year ​

Unlimited access - Archives included - Pro invoice

Monthly subscription

Unlimited access • Archives included

5.2$/month*
then 14.90$ per month thereafter

*Prices shown are exclusive of VAT, which may vary according to your location or professional status.

Since 2021: 30,000 articles - +150 analyses/week.