Wednesday , April 21 2021

Enjoy the concrete with the highest placement of bonds with a new historical rate floor



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njoy Yesterday, it finalized a placement of bonds in the local market of Santiago of Chile for a total of 3 million UF (approximately 82 billion Chilean pesos or $ 123 million), at an annual rate of 3.90%. . The placement corresponds to the titles of series I (mnemonic code BENJO-I).

The series is of the type bullet (a debt security for which the issuer is obliged to repay the entire capital on the maturity date), has a term of 10 years and the instrument does not consider guarantees. In line with its strategy to further strengthen its financial position, the company said in a statement that the funds raised in this new placement will be used in 70% of payments to the public, in addition to bank and debt prepayments. with short-term financial institutions. The balance will be used to finance investment projects that the company is developing.

For its part, Enjoy financial manager Esteban Rigo-Righi commented: "The placement of this bonus is very positive for Enjoy, not only because it is issued at the lowest rate in the company's history and allows us to replace debts that are in fees higher than the order of UF + 4.8% per year, but because it leaves us with a longer debt maturity that is more appropriate to the duration of the recently renewed games licenses, and allows us to finance the projects that Enjoy has planned for the next few years and move forward with our plans to reduce financial costs. "

This placement is part of the financial strategy promoted by Enjoy last time to optimize its debt structure, in addition to the recent increase in Humphreys' risk rating of Enjoy SA's debt and solvency bonds to "BBB +" .

Earlier this month, the rating agency highlighted the greater certainty of the restructuring of liabilities and highlighted among its main strengths its ability to generate consolidated cash flows. He also praised that management has implemented a series of measures to increase revenue and efficiency, such as improving the customer value experience, remodeling casinos and hotels, and incorporating more technology into slot machines. The placement of these instruments was carried out by BTG Pactual Chile S.A. Brokers and Tanner Corredores de Bolsa S.A.


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