Bloomberg News

Chile Generator E-CL Receives $95.5 Million Payment From Banks

October 21, 2011

Oct. 21 (Bloomberg) -- E-CL SA, northern Chile’s largest power generator, has received $95.5 million in payments from Spanish banks Bankia SA and Banco Santander SA as compensation for delays in the construction of two generation projects.

The payments, known as performance bonds, will have a positive effect on the company’s results, E-CL said in a statement posted on the website of Chile’s securities regulator. E-CL didn’t name the construction companies involved.

To contact the reporter on this story: Eduardo Thomson in Santiago at ethomson1@bloomberg.net

To contact the editor responsible for this story: Philip Sanders at psanders@bloomberg.net


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