Milbank LLP represented Goldman Sachs International, as sole initial purchaser, in the $400 million offering of Senior Secured Notes due 2019 by ContourGlobal Power Holdings S.A., a finance subsidiary of the parent ContourGlobal L.P.
The notes were secured by share pledges of certain existing and future subsidiaries of ContourGlobal L.P.
Milbank also represented Goldman Sachs Bank USA, as lead arranger and bookrunner and lender, in a $200 million senior secured bridge term loan facility to ContourGlobal Power Holdings S.A., which closed on March 31, 2014. Part of the proceeds of the secured notes offering was used to repay the bridge loan facility.
ContourGlobal was founded in 2005 and manages, owns and operates an existing portfolio of 42 power plants with approximately 3,718 megawatts of installed gross capacity in operation or under construction and spans 18 countries and 4 continents.
The Milbank team was led by Global Securities partners Paul Denaro and Peter Schwartz. Also assisting on the transaction was Global Leveraged Finance partner Michael Bellucci, along with Global Securities associates Sam Badawi, Noel Hughes, Kaveh Namazie and Matt Kusel, and Global Leveraged Finance associates Sarah Griffin, Malaika Lindo and Chris Kwan.
