Terna’s $81 Million Project Finance in Uruguay

Milbank, Guyer & Regules, Bonelli Erede Pappalardo, Clifford Chance, FERRERE and Hughes & Hughes advised on the deal

Terna secured $81 million for the construction of the 500 kV transmission line between the Uruguayan cities of Melo and Tacuarembó.
The financing consists of a Loan of about USD 56 million with maturity of 17 years and with a Libor USD 6 – month rate + 235bps funded through the Inter-American Development Bank (IDB) and a Loan of about USD 25 million with maturity of 15 years and with a Libor USD 6 -month rate +210 bps and funded through Banco Bilbao Vizcaya Argentaria (BBVA). The entire financing has been defined as a “green loan” by Vigeo Eiris – an agency specialized in assessing aspects of sustainability in business strategies and management – as the new power line will allow for increased energy production and consumption from renewable sources, further fostering their share in national production. Therefore, this investment is yet another step taken by Terna in line with its strategy for linking investments and sustainability as a means for growth and value creation.

Milbank advised Terna S.p.A with Caroline Walther-Meade (Picture) Alejandra García García and Lindsay Hall.

In Uruguay, Guyer & Regules advised Terna S.p.A with Juan Manuel Mercant,  Marcos Payssé, Federico Piano, Beatriz María Spiess, José María Nicola and Jimena Lanzani.

In Italy, Bonelli Erede Pappalardo advised Terna S.p.A with Catia Tomasetti, Gabriele Malgeri and Roberto Flammia.

Clifford Chance advised Inter-American Development Bank with  Giuseppe de Palma, Charles Adams, Patricio Abal, Pasquale Bifulco, Julián Hurtado Vallejo, Greg Jehle and Francesco Napoli.

In Urugay FERRERE advised Inter-American Development Bank with  Gonzalo Secco, Diego Rodríguez, Sebastián Ramos, Agustina Pérez and Enrique Slekis.

Hughes & Hughes advised BBVA Uruguay S.A. with Héctor Ferreira, Santiago Di Belli and Victoria Costa.

 

Involved fees earner: Juan Manuel Mercant – Guyer & Regules; Marcos Payssé – Guyer & Regules; Federico Piano – Guyer & Regules; José María Nicola – Guyer & Regules; Beatriz Spiess – Guyer & Regules; Jimena Lanzani – Guyer & Regules; Diego Rodríguez – Ferrere Attorneys; Gonzalo Secco – Ferrere Attorneys; Agustina Pérez Lete – Ferrere Attorneys; Sebastián Ramos – Ferrere Attorneys; Gonzalo Secco – Ferrere Attorneys; Enrique Slekis – Ferrere Attorneys; Victoria Costa – Hughes & Hughes Abogados; Héctor Ferreira – Hughes & Hughes Abogados; Santiago Di Bello – Hughes & Hughes Abogados; Carolina Walther-Meade – Milbank; Alejandra Garcia Garcia – Milbank; Lindsay Hall – Milbank; Giuseppe De Palma – Clifford Chance; Charles Adams – Clifford Chance; Patricio Abal – Clifford Chance; Pasquale Bifulco – Clifford Chance; Julian Hurtado Vallejo – Clifford Chance; Francesco Napoli – Clifford Chance; Catia Tomasetti – BonelliErede; Gabriele Malgeri – BonelliErede; Roberto Flammia – BonelliErede;

Law Firms: Guyer & Regules; Ferrere Attorneys; Hughes & Hughes Abogados; Milbank; Clifford Chance; BonelliErede;

Clients: Terna spa; Banco Bilbao Vizcaya Argentaria (Bbva); Inter-American Development Bank;