Milbank LLP advised Consorcio Transmantaro S.A., a Peruvian power and energy company, in connection with a $500 million offering of 5.200% notes due 2038 and a related liability management transaction that consisted of a concurrent tender offer and consent solicitation for the company’s outstanding $450 million 4.375% notes due 2023.
The Milbank deal team was led by Global Capital Markets partner Carlos Albarracín and included associates Pablo Richards, Fatima Bazzi and Chelsea Minuche. The team also included Milbank New York partner Andrew Walker and associate David Hanno, who provided tax advice, and New York partner Catherine Leef Martin, who provided investment company act advice.
Mr. Albarracin said, “We are pleased to have been a part of this successful liability management exercise by CTM during challenging market conditions both in Peru and elsewhere in Latin America. We are honored to continue our strong relationship with CTM and its parents ISA and Ecopetrol.”
Milbank has recently advised on a number of transactions for ISA and Ecopetrol, including advising on Interconexión Eléctrica (ISA), Colombia’s and Latin America’s largest power transmission company, in its inaugural $330 million Rule 144A offering of 3.825% 12-year bonds, advising the lenders in connection to the $4 billion financing to support Ecopetrol‘s acquisition of a 51.4% stake in ISA and advising the underwriters in connection with the US$2 billion SEC-registered bond offerings by Ecopetrol to partially refinance such acquisition bridge.
