EnfraGen Energía Sur, S.A.U., Prime Energía SpA and EnfraGen Spain, S.A.U.’s $1.76 Billion Debt Raise


Paul Hastings, Claro & Cía, Gómez-Pinzón, Philippi Prietocarrizosa Ferrero DU & Uría, Milbank, Garrigues, Arias, Fábrega & Fábrega, SIGMA Abogados and Hogan Lovells advised on the transaction

EnfraGen Energía Sur, S.A.U., Prime Energía SpA, and EnfraGen Spain, S.A.U., (the “Issuers”) announced today that they will issue US$710 million 5.375% senior secured notes (the “Notes”) on December 17, 2020 pursuant to a Rule 144A/Regulation S transaction. The Notes mature in 2030 and pay an interest rate of 5.375%. The Issuers are indirect subsidiaries of EnfraGen, LLC (“EnfraGen”), a developer, owner, and operator of grid stability and renewable energy infrastructure businesses in Latin America. The primary use of proceeds from the Notes, combined with a pari passu US$1.05 billion bank debt package for a total of US$1.76 Billion, will be to refinance EnfraGen’s existing debt portfolio and to fund EnfraGen’s additional growth.

Paul Hastings advised EnfraGen Energía Sur, S.A.U., Prime Energía SpA and EnfraGen Spain, S.A.U. with a team including Robert (Bob) Kartheiser (Picture), Cathleen E. McLaughlin, Elicia Ling, Joyce Y. Xu, Diona Park, Alex Herman, Inho Ko, Louise Toledo Farias, Bruna Rey, Thomas Sines, Matthew Smith, Anna Barbosa and Bianca Lazar.

In Chile, Claro & Cía. advised EnfraGen Energía Sur, S.A.U., Prime Energía SpA and EnfraGen Spain, S.A.U. with a team including José Luis Ambrosy, Trinidad Rojas Ochagavía, Jaime Salinas and Daniela Bartolucci.

In Colombia, Gómez-Pinzón advised EnfraGen Energía Sur, S.A.U., Prime Energía SpA and EnfraGen Spain, S.A.U. with José Luis Suárez Parra, Juan David Quintero, Daniel Florez Linero, Alejandro Sanabria Andres Felipe Fonseca Struss, Tania Orozco Araújo, Álvaro Rueda Cotes and Andrés Eduardo Gómez.

In Panama, SIGMA Abogados advised nfraGen Energía Sur, S.A.U., Prime Energía SpA and EnfraGen Spain, S.A.U. with Cecilio Castillero, Mónica Moreno and Eric Carles.

In Colombia, Philippi Prietocarrizosa Ferrero DU & Uría advised BNP Paribas, Intesa Sanpaolo S.p.A., New York Branch, JP Morgan Chase Bank, N.A., Mizuho Bank Ltd., MUFG Bank Ltd., Société Générale, Sumitomo Mitsui Banking Corporation and The Bank of Nova Scotia (Scotiabank) with Juan Fernando Gaviria, Ana María Ramírez and Angie Gómez M.

In US, Milbank advised BNP Paribas, Intesa Sanpaolo S.p.A., New York Branch, JP Morgan Chase Bank, N.A., Mizuho Bank Ltd., MUFG Bank Ltd., Société Générale, Sumitomo Mitsui Banking Corporation and The Bank of Nova Scotia (Scotiabank) with Jaime Ramírez, Daniel D. Bartfeld, Carlos T. Albarracín, Fernando Capellão, Lyndon Plothow, Kristina Hokenberg, Daniel Rios Zertuche, Anya Andreeva, Victoria Xie, David Cochran, Marcela Barba and John Preston.

In Chile, Garrigues advised BNP Paribas, Intesa Sanpaolo S.p.A., New York Branch, JP Morgan Chase Bank, N.A., Mizuho Bank Ltd., MUFG Bank Ltd., Société Générale, Sumitomo Mitsui Banking Corporation and The Bank of Nova Scotia (Scotiabank) with Pedro García Moralesy, Antonio Morales Mutis, Daniel Hernández Zapata, Francisco Irarrázaval Armendáriz, Federico Espinosa Fernández, María Francisca Correa, María Fernanda Jara Verdugo, Juan Ignacio Lagos Soza, Esteban Orhanovic and Macarena Fuentes Noguera.

Arias, Fábrega & Fábrega – ARIFA advised BNP Paribas, Intesa Sanpaolo S.p.A., New York Branch, JP Morgan Chase Bank, N.A., Mizuho Bank Ltd., MUFG Bank Ltd., Société Générale, Sumitomo Mitsui Banking Corporation and The Bank of Nova Scotia (Scotiabank) in Panama.

Hogan Lovells also advised BNP Paribas, Intesa Sanpaolo S.p.A., New York Branch, JP Morgan Chase Bank, N.A., Mizuho Bank Ltd., MUFG Bank Ltd., Société Générale, Sumitomo Mitsui Banking Corporation and The Bank of Nova Scotia (Scotiabank).

Involved fees earner: José Luis Ambrosy – Claro y Cia; Trinidad Rojas – Claro y Cia; Jaime Salinas – Claro y Cia; María Francisca Correa – Garrigues; Federico Espinosa Fernández – Garrigues; Pedro García Morales – Garrigues; Daniel Hernández Zapata – Garrigues; Francisco Irarrázaval Armendáriz – Garrigues; María Fernanda Jara Verdugo – Garrigues; Juan Ignacio Lagos Soza – Garrigues; Antonio Morales Mutis – Garrigues; Daniel Flórez Linero – Gómez-Pinzón; Andrés Felipe Fonseca Struss – Gómez-Pinzón; Andrés Eduardo Gómez Campiño – Gómez-Pinzón; Juan David Quintero Sánchez – Gómez-Pinzón; Alvaro Rueda Cotes – Gómez-Pinzón; Alejandro Sanabria Díaz – Gómez-Pinzón; José Luis Suárez Parra – Gómez-Pinzón; Carlos Albarracín – Milbank; Anya Andreeva – Milbank; Marcela Barba – Milbank; Daniel Bartfeld – Milbank; Fernando Capellão – Milbank; David Cochran – Milbank; Kristina Hokenberg – Milbank; Lyndon Plothow – Milbank; Jaime Ramirez – Milbank; Victoria Xie – Milbank; Anna Barbosa – Paul Hastings; Elicia Ling – Paul Hastings; Alex Herman – Paul Hastings; Robert Kartheiser – Paul Hastings; Inho Ko – Paul Hastings; Bianca Lazar – Paul Hastings; Cathleen McLaughlin – Paul Hastings; Diona Park – Paul Hastings; Bruna Rey – Paul Hastings; Thomas Sines – Paul Hastings; Matthew Smith – Paul Hastings; Louise Toledo Farias – Paul Hastings; Joyce Sophia Xu – Paul Hastings; Juan Fernando Gaviria – Philippi Prietocarrizosa Ferrero DU & Uría; Angie Gómez – Philippi Prietocarrizosa Ferrero DU & Uría; Ana María Ramírez – Philippi Prietocarrizosa Ferrero DU & Uría; Eric Carles – SIGMA Abogados; Cecilio Castillero – SIGMA Abogados; Mónica Moreno – SIGMA Abogados;

Law Firms: Claro y Cia; Garrigues; Gómez-Pinzón; Milbank; Paul Hastings; Philippi Prietocarrizosa Ferrero DU & Uría; SIGMA Abogados;

Clients: BNP Paribas; EnfraGen Spain S.A.; EnfraGen, LLC; Intesa Sanpaolo S.p.A.; JP Morgan Chase & Co.; JP Morgan Securities; Mizuho Bank; MUFG Bank, Ltd.; Prime Energia SpA ; Scotiabank; Société Générale; Sumitomo Mitsui Banking Corporation;

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Author: Ambrogio Visconti