13 December 2022
Clifford Chance advises on US$509 million acquisition financing to Grupo Energía Bogota
Leading international law firm Clifford Chance has advised a syndicate of lenders, including Scotiabank and SMBC, as joint lead arrangers and joint bookrunners, as well as Bank of China (Panama), Citibank and Banco de Sabadell (Miami) in connection with a syndicated US$509 million multiple draw term loan facility for Grupo Energía Bogota S.A. E.S.P. (GEB), a leading owner, developer and operator of electricity and natural gas infrastructure assets across Latin America, with a presence in Colombia, Peru, Guatemala and Brazil.
The proceeds of the loan were used primarily to acquire certain transmission assets in Brazil from Canadian asset manager Brookfield. The assets total approximately 2,416 km of 500 and 230 kV transmission lines and 20 substations, making GEB one of the largest energy transmission companies operating in Brazil.
The Clifford Chance team was led by partner Hugo Triaca and included associates Andrés Berry and Fernando Liu, and foreign law clerk Lucia Guardone in New York.
Clifford Chance advises on many landmark transactions in the Latin American energy sector, including Chilean REDEN Solar on innovative PMGD parallel notes private placements and GEB's latest notes offering in the international capital markets.