Milbank, Tweed, Hadley & McCloy LLP represented the initial purchasers in an offering of $379 million aggregate principal amount of 5.200% Series A Senior Secured Notes due 2047 by Celeo Redes Operación Chile S.A., an operator of power transmission systems in Chile. The Notes will be guaranteed by the Issuer’s subsidiaries, Alto Jahuel Transmisora de Energía S.A. and Charrúa Transmisora de Energía S.A., and secured by a first priority interest in certain existing and future assets of the Issuer and the Guarantors. Each of the guarantors operates electricity transmission projects and circuit lines, either in operation or under construction in Chile.
The Milbank team was led by Capital Markets partner Marcelo Mottesi, along with special counsel Ben Garcia and associates Kaveh Namazie and Andres Osornio, and international attorney Gonzalo Guitart. The team also included the head of Milbank’s Global Project, Energy and Infrastructure Finance practice Dan Bartfeld, as well as associate Andres Arnaldos-Montaner.
Mr. Mottesi, head of Milbank’s Global Capital Markets practice and co-head of the firm’s Latin America Group, said: “We are fortunate to continue to be involved in some of the most interesting offerings that have taken place in Chile over the past 15 years and anticipate this to be one of many offerings in the Latin American infrastructure market this year.”
Milbank continues to be a dominant force in the Latin America power, energy and infrastructure markets, regularly advising clients on a range of development, financing and acquisition matters (totaling in excess of $30 billion in the past five years).
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