Shearman & Sterling represented Empresa Eléctrica Angamos S.A., a Chilean power company wholly owned by AES Gener S.A., which in turn is majority owned by AES Corporation, in connection with its Rule 144A/Regulation S offering of US$800 million aggregate principal amount of its 4.875% Senior Secured Notes due 2029.

Angamos is engaged in the generation, transmission and supply of electricity in northern Chile. Angamos used the net proceeds of the offering to repay the secured credit facility it entered into on October 22, 2008 with various financial institutions (including certain of the initial purchasers and their affiliates) to finance the development, engineering and construction of the Anamosa electricity generation complex, including amounts arising as a result of the termination of associated swap agreements and other related transaction costs. The remainder will be used by Angamos for general corporate purposes.

The Team