May 18, 2020

Milbank Represents Grupo Energía Bogotá in $400M Bond Market Return


Milbank LLP represented Grupo Energía Bogotá S.A. E.S.P. in connection with the $400 million offering of its 4.875% Senior Notes due 2030. GEB is a leading owner, developer and operator of electricity and natural gas infrastructure assets across Latin America, with a presence in Colombia, Peru, Guatemala and Brazil. The proceeds of the notes will be used to finance GEB’s investment plan for the period 2020-2022.

The Milbank deal team was led by Global Capital Markets partner Carlos Albarracín, along with associate Andres Osornio, and international attorney Osvaldo Norte Sabino. The team also included Tax partner Andrew Walker and associate David Hanno.

Mr. Albarracín said: “We are pleased to have represented the issuer, GEB, which plays a major role in Colombia’s thriving economy, on such an important transaction in the Andean Region’s energy sector. Over the past 15 years, GEB has successfully developed into an integrated regional energy company while maintaining a strong financial profile. We are happy to have been part of that process and to once again represent GEB on their return to the international bond market after almost 10 years. This further contributes to the continued development of the power and energy infrastructure in Colombia.”

Milbank continues to have a strong presence in Colombia and a deep client base in the country. Milbank recently represented the underwriters in the $2 billion bond offering by Ecopetrol, Colombia’s state-owned oil and gas major and has previously represented GEB in the COP$1.925 billion (approximately US$669 million) first ever dual-track secondary equity offering by a Colombia state-owned company.