Empresa Nacional del Petroleo (Enap) has raised $300 million in a 10-year note sale, Bloomberg reports. The Chilean oil and gas company will use the proceeds to refinance short term debt and improve the liquidity profile.

The bond sale will be managed by HSBC Holdings, BNP Paribas and Banco Santander. Before obtaining the new loans, Enap had short-term debts of $700 million.

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