Milbank LLP advised 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. The deal was more than four times oversubscribed. ISA was recently acquired by Ecopetrol.
The Milbank deal team was led by Global Capital Markets partner Carlos Albarracín along with associates Maria Velasco and Santiago Freyre. The team also included Tax partner Andrew Walker and Alternative Investments partner Catherine Leef Martin.
Mr. Albarracín said: “We are pleased to have advised ISA in its inaugural bond offering in Colombia, which has one of the lowest yields of any Colombian corporate bond to date.”
Milbank continues to have a strong presence in Colombia. The firm recently advised the lenders in connection to the $4 billion financing to support Ecopetrol‘s acquisition of a 51.4% stake in ISA and the underwriters in connection with the US$2 billion SEC-registered bond offerings by Ecopetrol to partially refinance such acquisition bridge.
