Colbun SA’s $500 Million Notes Offering

Arteaga|Gorziglia, Cleary Gottlieb Steen & Hamilton, Garrigues and Davis Polk & Wardwell advised on the transaction

Colbún executed its Rule 144A/Regulation S offering of an aggregate principal amount of $500 million of 3.15% notes due 2030 and its tender offer to purchase any and all of its outstanding 4.5% notes due 2024.

BofA Securities, J.P. Morgan Securities, Scotia Capital and Santander Securities acted as initial purchasers on the offering.

Colbún is engaged in the generation, transmission and supply of electricity in Chile and Peru. Colbún has a diverse generation portfolio composed of hydroelectric, thermoelectric and photovoltaic facilities and is Chile’s and Peru’s third-largest power generation company in terms of generation. Colbún is currently controlled by the Matte Group, one of Chile’s largest and most prominent investment groups.

Arteaga|Gorziglia advised Colbún S.A. with Ignacio Arteaga Echeverría (Picture) Cristián Carpentier, María Elisa Undurraga A and Magdalena Fabres.

Cleary Gottlieb Steen & Hamilton advised advised Colbún S.A. with Francesca Odell, Adam Brenneman, Jason R. Factor, Martin Simonis, Rigoberto Chávez, Susan Levinson, Karl Heiland and Victoria Ju.

Davis Polk advised the initial purchasers with Maurice Blanco, Drew Glover, Konstantinos Papadopoulos. Patrick E. Sigmon provided tax advice.

Garriguez advised BofA Securities, J.P. Morgan Securities, Scotia Capital and Santander Securities with Pedro García Morales, Antonio Morales Mutis, Francisco Irarrázaval A., María Fernanda Jara Verdugo and Juan Ignacio Lagos Soza.

Involved fees earner: Ignacio Arteaga – Arteaga Gorziglia & Cia; Cristian Carpentier – Arteaga Gorziglia & Cia; Magdalena Fabres – Arteaga Gorziglia & Cia; María Elisa Undurraga – Arteaga Gorziglia & Cia; Adam Brenneman – Cleary Gottlieb Steen & Hamilton; Rigoberto Chavez – Cleary Gottlieb Steen & Hamilton; Jason Factor – Cleary Gottlieb Steen & Hamilton; Karl Heiland – Cleary Gottlieb Steen & Hamilton; Susan Levinson – Cleary Gottlieb Steen & Hamilton; Francesca Odell – Cleary Gottlieb Steen & Hamilton; Martin Simonis – Cleary Gottlieb Steen & Hamilton; Maurice Blanco – Davis Polk & Wardwell; Drew Glover – Davis Polk & Wardwell; Konstantinos Papadopoulos – Davis Polk & Wardwell; Patrick Sigmon – Davis Polk & Wardwell; Pedro García Morales – Garrigues; Francisco Irarrázaval Armendáriz – Garrigues; Antonio Morales Mutis – Garrigues;

Law Firms: Arteaga Gorziglia & Cia; Cleary Gottlieb Steen & Hamilton; Davis Polk & Wardwell; Garrigues;

Clients: Bank of America Securities; Colbun S.A; JP Morgan Securities; Santander Securities ; Scotia Capital Inc.;

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Author: Ambrogio Visconti.