Shearman And Sterling

News May 01, 2015

Shearman & Sterling Advises on Guacolda’s Senior Notes Offering and Syndicated Loan Facility

Shearman & Sterling represented Empresa Eléctrica Guacolda S.A., a Chilean joint venture between AES Gener S.A. and Global Infrastructure Partners, in connection with its Rule 144A/Regulation S offering of US$500 million aggregate principal amount of its 4.560% Senior Notes due 2025 and its US$330 million five-year unsecured syndicated loan facility with various financial institutions. Guacolda is engaged in the generation, transmission and supply of electricity in Chile. 

Guacolda used the net proceeds of the offering and the syndicated loan facility to repay, consolidate and restructure all of its existing indebtedness, including its secured credit facilities it entered into with various financial institutions to finance the development, engineering and construction of the Guacolda electricity generation complex, as well as amounts arising as a result of the termination of associated swap agreements and other related transaction costs. The remainder will be used by Guacolda to pay for the remaining project costs associated with the completion of its fifth generation unit. 

The Team