Shearman & Sterling Advises on AES Dominicana’s $370 Million Notes Units Offering
Shearman & Sterling represented AES Andres B.V., AES Andres DR, S.A., Dominican Power Partners and Empresa Generadora de Electricidad Itabo, S.A. (collectively “AES Dominicana”) in connection with the issuance of US$370 million notes units consisting of: (i) US$270.1 million of Andres-DPP notes issued jointly and severally by AES Andres B.V. and Dominican Power Partners, and unconditionally and irrevocably guaranteed by AES Andres DR, S.A.; and (ii) US$99.9 million principal amount of Itabo notes issued by Empresa Generadora de Electricidad Itabo, S.A. Citigroup Global Markets Inc. and Credit Suisse Securities (USA) LLC acted as joint book-running managers in the transaction.
AES Corporation is the largest investor in the Dominican Republic’s energy sector, and its presence in the Dominican Republic’s energy sector is comprised of its operating subsidiaries: AES Andres DR, S.A., which is a subsidiary of AES Andres B.V., Dominican Power Partners and Empresa Generadora de Electricidad Itabo, S.A.
The following Shearman & Sterling team advised AES Dominicana in the transaction: partner Antonia Stolper
(New York-Capital Markets); and associates Jennifer Lau (São Paulo-Capital Markets) and Erica Kassman (New York-Corporate). Other Shearman & Sterling lawyers involved in the transaction were counsel Grissel Mercado
(New York-Capital Markets); and associates Jeffrey Tate (Washington, DC-Tax) and Michael Daly (Washington, DC-Tax).