November 8, 2018
Clifford Chance advises HSBC and J.P. Morgan on debt-issuance of 10-year notes by Transportadora de Gas Internacional
Clifford Chance's New York office advised HSBC Securities (USA) Inc. and J.P. Morgan Securities LLC as initial purchasers in connection with the issuance of US$750 million 5.550% Notes due 2028 by Transportadora de Gas Internacional S.A. E.S.P. (TGI). The offering was more than three times oversubscribed and the Notes were listed on the Singapore Exchange Securities Trading Limited (SGX-ST). The issuance was made under Rule 144A/Reg S and the proceeds of the Notes were used to redeem TGI's US$750 million 5.700% Notes due 2022. The notes are rated by Fitch, Moody's and S&P.
TGI is one of the two main natural gas transportation companies in Colombia, owned by the Grupo de Energía de Bogotá, a quasi-sovereign entity owned by the District of Bogotá. TGI has a gas pipeline infrastructure of more than 2,400 miles and serves major Colombian cities including Bogotá, Cali and Medellín.
Partner Hugo Triaca led on the transaction with associates Alejandro Espitia and Thomas Rossidis, and law clerk Maria Jimena Londoño.
Clifford Chance has been recognized for decades as a preeminent law firm in Latin America. The Firm has led the way in developing successful, novel financing structures for a diverse client-base, and is constantly innovating its service offering, such as with a dedicated Latin America group specialized in capital markets, bank and project financing structures representing initial purchasers, underwriters, issuers and investors. The Firm's lawyers have extensive experience in the region's distinct business, legal and regulatory landscapes. They provide expertise that cuts across a full range of relevant practices, while aligning pioneering solutions with the unique characteristics of the Latin American market and the changing needs of clients.