Clifford Chance LLP in New York and Philippi Prietocarrizosa Ferrero DU & Uría (Colombia) have helped Transportadora de Energía de Centroamérica (TRECSA) raise US$110 million through a private placement.
Paul Hastings LLP in New York and Pérez-Llorca (Colombia) advised the bond administrators and purchasers.
Latin Lawyer understands that Alta (Guatemala) also advised the bond administrator and purchasers but could not confirm this before publishing.
The deal closed on 9 September.
The notes, governed by New York law, were guaranteed by TRECSA’s parent company, Grupo Energía Bogotá (GEB). Citibank acted as the notes administrator.
TRECSA will use the proceeds to refinance existing debt.
The transaction marks the company’s first private placement in this format. PGIM, the global investment management arm of Prudential, and funds managed by Global Infrastructure Partners participated in the issuance.
TRECSA’s parent origination GEB launched a US$605 million securities programme on the Colombian stock exchange earlier this year. Holland & Knight (Colombia) advised GEB at that time.
Counsel to TRECSA and Grupo Energía Bogotá
Philippi Prietocarrizosa Ferrero DU & Uría (Colombia)
Partners Hernando Padilla and Héctor Ramírez, and associates Ximena González, Alexandra Verano, Manuela Arenas and Mariana Puyo in Bogotá
