Holland & Knight Advises Dealer Managers on Empresa Nacional del Petróleo's $170.6 Million Cash Tender Offers

NEW YORK (January 12, 2026) – Holland & Knight advised Itau BBA USA Securities Inc., Santander US Capital Markets LLC and Scotia Capital (USA) Inc. in connection with the cash tender offers conducted by Empresa Nacional del Petróleo (ENAP), a state-owned enterprise organized under the laws of the Republic of Chile, to purchase 5.25 percent notes due in 2029 and 3.45 percent notes due in 2031, up to the applicable maximum tender amounts. The offers launched on December 5 and expired on January 6.

Itau BBA USA Securities Inc., Santander US Capital Markets LLC and Scotia Capital (USA) Inc. acted as dealer managers for the offers. D.F. King & Co. Inc. served as information and tender agent.

Holland & Knight's representation of the dealer managers was led by Partner Stephen Double, Associate Juan Mata and International Law Clerk Clemente Waidele Arteaga.

More information on the transaction can be found here.