Alto Maipo Project’s Debts Restructuring


Baker Botts, Claro & Cia, Bofill Mir & Álvarez Jana, Carey, Chadbourne & Parke and Eyzaguirre y Cía. have advised on the transaction

AES Gener has completed the financial restructuring of the Alto Maipo Hydroelectric Project.

The Alto Maipo Hydroelectric Power project consists of the design, construction, operation and maintenance of two run-of-the-river hydroelectric plants with a total capacity of 531MW. The Project will be developed and owned by AES Gener S.A. (60%) and by Antofagasta Minerals S.A. (“AMSA”, 40%). The construction of the two hydroelectric power plants began in the 4th quarter of 2013.

AES Gener S.A., together with its subsidiaries, engages in the generation, transmission, and distribution of electricity in Chile, Argentina, and Colombia.

Banco Interamericano de Desarrollo, International Finance Corporation, Overseas Private Investment Corporation, Itaú Corpbanca, Banco de Crédito e Inversiones, Banco del Estado de Chile, Itaú Corpbanca, KfW IPEX Bank GmbH and DNB Bank ASA have granted the credit facility.

Baker Botts has advised Alto Maipo SpA with Mark Spivak, Chad Davis and Peter Glenn.

Claro & Cia. has advised AES Gener with Rodrigo Ochagavía, Ariel Mihovilovic, Carmen Luz Chavarría, Trinidad Rojas O. and María Jesús Muñoz.

Bofill Mir & Álvarez Jana Abogados has advised Antofagasta Minerals with Octavio Bofill, Andrés Jana, Rodrigo Saffirio and Daniela Buscaglia.

Carey has advised Banco Interamericano de Desarrollo, International Finance Corporation, Overseas Private Investment Corporation, Itaú Corpbanca, Banco de Crédito e Inversiones, Banco del Estado de Chile, Itaú Corpbanca, KfW IPEX Bank GmbH and DNB Bank ASA with Juan Francisco Mackenna (Picture) , Felipe Moro, Ricardo Reveco, Felipe Meneses, José Tomás Barruteo, Rosario Martínez, Fernando Noriega, Carmenmaría Poblete, Roberto Villaseca, Juan Pablo Loyola, Gabriel Acuña and Patricia Montt.

Chadbourne & Parke LLP has advised Banco Interamericano de Desarrollo, International Finance Corporation, Overseas Private Investment Corporation, Itaú Corpbanca, Banco de Crédito e Inversiones, Banco del Estado de Chile, Itaú Corpbanca, KfW IPEX Bank GmbH and DNB Bank ASA with Christy Rivera, Marissa Alcala, Rebecca Abou-Chedid, Christa Maiorano, Jacob Yaniero and Tracy Horton.

Eyzaguirre y Cía. has advised Strabag SpA – that holds the 7.5% interest on the project – with Cristián Eyzaguirre and Antonio Marinovic.

Involved fees earner: Cristián Eyzaguirre Smart – Eyzaguirre y Cía; Antonio Marinovic – Eyzaguirre y Cía; Juan Francisco Mackenna – Carey; Felipe Moro – Carey; Ricardo Reveco – Carey; Felipe Meneses – Carey; Octavio Bofill – BMAJ Bofill Mir & Alvarez Jana Abogados; Rodrigo Saffirio – BMAJ Bofill Mir & Alvarez Jana Abogados; Daniela Buscaglia – BMAJ Bofill Mir & Alvarez Jana Abogados; Andrés Jana – BMAJ Bofill Mir & Alvarez Jana Abogados; Mark Spivak – Baker Botts; Chad Davis – Baker Botts; Peter Glenn – Baker Botts; Marissa Leigh Alcala – Chadbourne; Christy Rivera – Chadbourne; Rebecca Abou-Chedid – Chadbourne; Christa Maiorano – Chadbourne; Jacob Yaniero – Chadbourne; Tracy Horton – Chadbourne; Rodrigo Ochagavía – Claro y Cia; Ariel Mihovilovic – Claro y Cia; Carmen Luz Chavarría – Claro y Cia; María Jesús Muñoz – Claro y Cia; Trinidad Rojas – Claro y Cia;

Law Firms: Eyzaguirre y Cía; Carey; BMAJ Bofill Mir & Alvarez Jana Abogados; Baker Botts; Chadbourne; Claro y Cia;

Clients: KfW IPEX-Bank GmbH; Strabag; International Finance Corporation; Banco del Estado de Chile; Overseas Private Investment Corporation; Banco de Crédito de Inversiones; Inter-American Development Bank; DNB Bank ASA; AES Gener S.A.; Antofagasta Minerals S.A.; Itaú Corpbanca; Alto Maipo S.p.A.;

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Author: Ambrogio Visconti