Peruvian Consorcio Transmantaro’s $400 Million Green Bonds Issuance

Clifford Chance advised J.P. Morgan and Merrill Lynch, as initial purchasers, on the issuance of US$400,000,000 of 4.700% senior notes due 2034 (the “Notes”) by Consorcio Transmantaro S.A. (“CTM”). Milbank LLP represented Consorcio Transmantaro S.A.

The Notes were listed on the Luxembourg Stock Exchange and labeled as “green bonds” with proceeds from the offering being used to (i) refinance certain of CTM’s existing indebtedness (the proceeds of which were initially used to finance Eligible Green Projects) and (ii) finance new Eligible Green Projects.

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 Clifford Chance team was composed by partner Hugo Triaca (Picture), associate Lane Feler and law clerk Kiara Spoerer. Partner Avrohom Gelber advised on tax matters.

In Perù Miranda & Amado advised the Initial Purchasers with Juan Luis Avendaño Cisneros, Álvaro del Valle and Gabriel Boucher Cálamo.

In Perù, Estudio Echecopar (Baker & McKenzie) advised Consorcio Transmantaro S.A. with a team including Alonso Miranda Vargas, Inés Vázquez Vargas, Renzo Luna Urquizo, Alexandra Carranza Bendezu and Natalia Zúñiga Arbildo.

The Milbank team was led by Global Capital Markets partner Carlos Albarracín, along with associates Andres Osornio and Gonzalo Guitart and international attorney Oscar Vazquez. The team also included Tax partner Andrew Walker and associate Jules Mugema.

Involved fees earner: Alexandra Carranza – Baker McKenzie; Alonso Miranda Vargas – Baker McKenzie; Renzo Luna Urquizo – Baker McKenzie; Ines Vazquez – Baker McKenzie; Natalia Zúñiga Arbildo – Baker McKenzie; Lane Feler – Clifford Chance; Avrohom Gelber – Clifford Chance; Kiara Spoerer – Clifford Chance; Hugo Triaca – Clifford Chance; Carlos Albarracín – Milbank; Gonzalo Guitart – Milbank; Jules Mugema – Milbank; Andres Osornio Ocaranza – Milbank; Oscar Vazquez – Milbank; Andrew Walker – Milbank; Juan Luis Avendaño – Miranda & Amado Abogados; Gabriel Boucher – Miranda & Amado Abogados; Álvaro del Valle Roeder – Miranda & Amado Abogados;

Law Firms: Baker McKenzie; Clifford Chance; Milbank; Miranda & Amado Abogados;

Clients: Consorcio Transmantaro S.A.; JP Morgan; Merrill Lynch International;

Author: Ambrogio Visconti