Transelec’s $358 Million Loan


Shearman & Sterling, Carey, Norton Rose Fulbright and Claro & Cia. advised on the deal

Transelec Concesiones S.A., an affiliate of Transelec S.A., secured a $358 million loan facility and associated interest rate hedging for the individualized portfolio construction financing of four independent transmission lines (each with a capacity of between 2×220 kV and 2×500 kV) and four associated independent substations in Chile, with Export Development Canada, KfW IPEX-Bank GmbH and MUFG Bank, Ltd. acting as mandated lead arrangers.

The financing was provided to Transelec Concesiones S.A. through non-cross collateralized loans to each individual project on a standalone basis.

Shearman & Sterling advised Transelec Concesiones S.A. with Denise M. Grant (Picture), Alexandro Padrés, Geoffrey Goldman, Kristen Garry, Robert E. O’Leary, Petra Plasilova, Udoaku Camilla Ihenetu, Adam Sternberg and Daniela Curiel.

In Chile, Carey adivsed Transelec Concesiones S.A. with Felipe Moro, Matías Vergara, Juan Pablo Stitchkin Tirado, Carmenmaría Poblete, Diego Lasagna, Eduardo Morandé, Fernando Noriega, Jorge Soto, José Luis Enberg, Kriss Andía, Loreto Ribera and Nadia Jara.

Norton Rose Fulbright advised Export Development Canada, KfW IPEX-Bank GmbH andMUFG Bank, Ltd. with Daniel Spencer, Todd E. Alexander, William G. Cavanagh, Kevin Prokup, Monika Szymanski, Shellka Arora-Cox, Diego Brandão and Caspar Davey.

In Chile, Claro & Cia. advised Export Development Canada, KfW IPEX-Bank GmbH andMUFG Bank, Ltd. with Rodrigo Ochagavía, Gerardo Otero and Vicente Allende.

Involved fees earner: Kriss Andía – Carey; Nadia Jara – Carey; José Luis Enberg – Carey; Diego Lasagna – Carey; Eduardo Morandé – Carey; Felipe Moro – Carey; Carmenmaría Poblete – Carey; Loreto Ribera – Carey; Jorge Soto – Carey; Juan Pablo Stitchkin – Carey; Matías Vergara – Carey; Vicente Allende – Claro y Cia; Rodrigo Ochagavía – Claro y Cia; Gerardo Otero – Claro y Cia; Todd Alexander – Norton Rose Fulbright; Shellka Arora – Norton Rose Fulbright; Diego Brandao – Norton Rose Fulbright; William Cavanagh – Norton Rose Fulbright; Caspar Davey – Norton Rose Fulbright; Kevin Prokup – Norton Rose Fulbright; Daniel Spencer – Norton Rose Fulbright; Monika Szymanski – Norton Rose Fulbright; Kristen Garry – Shearman & Sterling; Geoffrey Goldman – Shearman & Sterling; Denise Grant – Shearman & Sterling; Udoaku Camilla Ihenetu – Shearman & Sterling; Robert O’Leary – Shearman & Sterling; Alexandro Padrés – Shearman & Sterling; Petra Plasilova – Shearman & Sterling; Adam Sternberg – Shearman & Sterling;

Law Firms: Carey; Claro y Cia; Norton Rose Fulbright; Shearman & Sterling;

Clients: Export Development Canada; KfW IPEX-Bank GmbH; MUFG Bank, Ltd.; Transelec S.A.;

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Author: Ambrogio Visconti