May 21, 2020
Clifford Chance advises on Grupo Energía Bogotá's international bond issuance
Leading international law firm Clifford Chance represented BofA Securities, Inc. and HSBC Securities (USA) Inc., as joint bookrunners and joint lead managers on the issuance of US$400 million aggregate principal amount of 4.875% senior notes due 2030 (the Notes) by Grupo Energía Bogotá S.A. E.S.P. (GEB).
The Notes were offered and sold in a transaction exempt from registration pursuant to Rule 144A and Regulation S under the US Securities Act of 1933, and were listed on the Official List of the Singapore Exchange Securities Trading Limited.
GEB, a public utility company (empresa de servicios públicos), organized under the laws of Colombia and majority-owned by the District of Bogotá, is 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, reaching over 3.3 million people.
The Colombian Ministry of Finance and Public Credit authorized the transaction, which was more than eleven times oversubscribed. GEB will use the proceeds from the Notes issuance to finance its investment plan for the 2020-2022 period.
The Firm's New York-based team was led by partner Hugo Triaca and supported by associate Alejandro Espitia and law clerk Fernando Castillo Villalpando. Partner Avrohom Gelber handled the tax aspects of the transaction.