Shearman And Sterling

News October 31, 2014

Shearman & Sterling Advises on E.CL’s Notes Offering

Shearman & Sterling represented E.CL S.A. (“E.CL”), a Chilean power company, in connection with its Rule 144A/Regulation S offering of US$350 million aggregate principal amount of its 4.500% Senior Notes due 2025. The proceeds of the offering, together with other available cash, were used for the full repayment of the outstanding project financing loans of one of its subsidiaries and all costs arising from the early termination of the related interest-rate swaps.

E.CL is engaged in the generation, transmission and supply of electricity and the transportation of natural gas in the north of Chile, as well as the transportation of natural gas in Argentina.

The Shearman & Sterling team included partners Antonia Stolper (New York-Capital Markets) and Azam Aziz (New York-Investment Funds); associates Grissel Mercado (New York-Capital Markets), Christopher Dolan (Washington, DC-Project Development & Finance), Alexandre Charles (New York-Investment Funds), Jeffrey Tate (Washington, DC-Tax), Mary Jo Lang (Washington, DC-Tax), and Julia Twarog (New York-Corporate); and international associate Federico Piano (New York-Capital Markets).