9 May 2022
Clifford Chance advises on tender offer, consent solicitation and notes offering by Peruvian Consorcio Transmantaro S.A.
Leading international law firm Clifford Chance has advised BofA Securities, Inc. and J.P. Morgan Securities LLC (i) as dealer managers and solicitation agents in connection with a tender offer and consent solicitation directed to holders of Consorcio Transmantaro S.A.'s (CTM) 4.375% notes due 2023 (2023 Notes), and (ii) as initial purchasers in connection with a US$500 million offering of CTM’s 5.200% notes due 2038 (2038 Notes). The proceeds of the 2038 Notes were used to finance the repurchase of the tendered 2023 Notes and the subsequent redemption of the 2023 Notes not tendered in the tender offer.
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 team was led by partner Hugo Triaca in New York and included associate Brianna Jones Rich and law clerk Joyce Moore. Partner Avrohom Gelber advised on tax aspects of the transactions.
Clifford Chance advises on landmark transactions by energy companies in the Latin American market. The firm previously advised on CTM's Green Bonds reopening transaction as well as on the inaugural international notes offering by Colombia-based ISA.