The EPM Group improves its profile of debt maturities in Chile and Panama

Sunday, October 21, 2018

With the recent debt management operations executed by its subsidiaries in Chile and Panama, the EPM Group continues to carry out actions on the financial front that contribute to improving its debt profile. These credit operations, which do not increase the level of the Group's debt, were executed with the objective of reducing cash requirements in the short term.

Both operations were defined based on the contingency of the Ituango hydroelectric project and complement the internal actions to optimize expenses and investments, as well as the sale of assets necessary to maintain investments in infrastructure of public services, mainly in Colombia.

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In Chile, taking advantage of the adequate financial conditions of the market, Aguas Antofagasta (ADASA) extended the term to 5 years of the line of credit for $ 273 million Chilean pesos (equivalent to $ 430 million dollars) with The Bank Of Nova Scotia (Scotiabank) and the Bank of the State of Chile. This transaction refinances the credit obtained by the company in 2015, whose maturity was agreed for February 2019.

Likewise, the Panamanian subsidiary Elektra Nordeste SA (ENSA) announced the signing of a line of credit with Scotiabank in Panama, for an amount of $ 100 million dollars and a term of 5 years, also extending the term of existing debt.

The execution of these operations improves the EPM Group's debt profile, increasing its average life from 5.9 to 6.3 years. The support of the Canadian bank and Chilean banks in these operations demonstrate the confidence and support that the EPM Group has on behalf of international banks, which allows the Group's debt portfolio to be managed efficiently.

This EPM press release was published using an automatic translation system.