Endesa Chile to refinance bond with $400 mln loan

SANTIAGO, June 24 (Reuters) - Chile's leading electricity generator, Endesa Chile END.SN(EOC.N: Quote, Profile, Research), will use a newly acquired syndicated loan of $400 million to refinance a 1998 bond issue maturing in July, the company said on Tuesday.

The bond, issued in the U.S market, has a face value of $400 million.

Endesa Chile, a regional affiliate of Endesa Spain's (ELE.MC: Quote, Profile, Research) investment group Enersis ENE.SN, said half of the loan would be a revolving line of credit, and the remainder would be a six-year loan with a single amortization payment at maturity.

"With this loan the company will generate a savings of $9.5 million per year," Endesa Chile said in a statement. (Reporting by Rodrigo Martinez, Writing by Lisa Yulkowski; editing by John Wallace)