Clifford Chance advises on debut international notes offering by Peruvian electricity company Luz del Sur

Global law firm Clifford Chance has advised BofA Securities Inc., J.P. Morgan Securities LLC and Santander US Capital Markets LLC, as initial purchasers, in the offering by Luz del Sur S.A. of PEN1.38 billion (~US$396 million) aggregate principal amount of its 6.750% Notes due 2032.

Luz del Sur is one of the largest electric power distribution companies in Peru, indirectly owned by China Three Gorges Corporation, a Chinese corporation. This offering marks the company's first notes issuance in the international capital markets.

The team was led by partner Hugo Triaca in New York with support from associates Joyce Moore and Alexandra Machado in New York, foreign lawyer Juan Andrés Bosch Muñoz in Madrid, and partner David Tsai and senior associate Kenneth Ip in Hong Kong. Partner Avrohom Gelber and law clerk DyTiesha Dunson provided tax advice. Internationl Partner Kimi Liu from Shanghai He Ping Law Firm* provided additional support.

Clifford Chance advises on many transactions in the Latin American energy sector, including recently on TRECSA’s issuance of notes guaranteed by Grupo Energía Bogotá and a notes issuance by EDEMSA, the largest electricity distribution company in Mendoza, Argentina.

*Clifford Chance LLP and Shanghai He Ping Law Firm have established a Joint Operation in the China (Shanghai) Pilot Free Trade Zone under the name Clifford Chance LLP and Shanghai He Ping Law Firm (FTZ) Joint Operation Office with the approval of the Shanghai Bureau of Justice.