Shearman & Sterling advised Axia Power I S.A. and Termonorte S.A.S. E.S.P. in connection with a private placement of senior secured notes in the aggregate principal amount of $65 million. The obligations of the issuers are secured by the operating and development project assets.

The proceeds of the notes will be used to refinance certain existing debt in respect of Termonorte’s 93MW gas-fired power plant in Santa Marta, Colombia, and provide funds for operational expenses. BlackRock teams in New York and Colombia structured the issuance.

The Team