Consorcio Transmantaro S.A.’s Green Bonds Reopening

Clifford Chance advised BofA Securities and J.P. Morgan on the transaction.

BofA Securities and J.P. Morgan acted as initial purchasers, on the issuance of US$ 200,000,000 principal amount of 4.700% senior notes due 2034 (the Notes) by Consorcio Transmantaro S.A. (CTM). The Notes were issued in a reopening transaction and form a single series with the US$400,000,000 principal amount of Notes that were originally issued by CTM in April 2019. Therefore, following the closing of the reopening transaction, Notes for an aggregate principal amount of US$600,000,000 are outstanding.

The Notes are labeled as “green bonds” with proceeds being used to finance and/or refinance eligible green projects, including the refinancing of a short-term facility used to invest in the Mantaro-Nueva Yanango-Carapongo Interconnection and the Nueva Yanango Nueva Huánuco Interconnection. The Notes are listed on the Official List of the Luxembourg Stock Exchange and trade on the Euro MTF Market of such exchange.

CTM, a company engaged in the construction, operation and maintenance of power transmission systems in Peru, is owned by Interconexión Eléctrica S.A. E.S.P. (with a 60% equity interest) and Grupo Energía de Bogotá S.A. E.S.P. (with a 40% equity interest).

The Firm’s team was led by Hugo Triaca (Picture) and included associates Lane Feler (Picture) and Edwin Ramirez-Homs. Partner Avrohom Gelber advised on tax matters.

Involved fees earner: Avrohom Gelber – Clifford Chance; Edwin Ramirez-Homs – Clifford Chance; Hugo Triaca – Clifford Chance;

Law Firms: Clifford Chance;

Clients: Bank of America Securities; JP Morgan;

Author: Ambrogio Visconti