PPU wins Deal of the Year

PPU has been recognized by Latin Lawyer on it´s 17th annual Deal of the Year Awards.

PPU has been recognized by Latin Lawyer on it´s 17th annual Deal of the Year Awards. The winning deal was Project finance: energy and natural resources – Innergex refinances Chilean renewables Projects with proceeds from green bond offering, led by our Director of the Banking & Finance department Daniel Parodi and associates Ignacio Chomalí Vanjorek and Juan Ignacio Rosales Schaeffer.

About the Deal

Four offices of DLA Piper LLP have helped Canadian renewables group Innergex issue US$710 million worth of green bonds and obtain a US$93 million loan to refinance its operations in Chile.

Paul Hastings LLP in New York and Frankfurt, Garrigues in Lisbon and Philippi Prietocarrizosa Ferrero DU & Uría (Chile) represented the note purchasers and letter of credit providers.

The deal closed on 4 August.

Innergex will use the funds raised in the bond and loan transactions to refinance its debt and construct its first-ever battery energy storage project in Chile. The green bonds mature in 2036, with a portion of those proceeds also earmarked for renewable energy projects.

The renewables company will use US$176 million worth of the proceeds from the offering to fund its acquisition of Chilean energy group Aela and its portfolio of wind farms from UK investment fund Actis and Ireland’s Mainstream Renewable Power. The US$686 million acquisition was signed earlier this year. DLA Piper advised Innergex on that occasion too.

The Canadian group now operates a total of three wind farms in Chile, while it also manages four hydroelectric plants and three solar projects throughout the country.

Headquartered in Quebec, Innergex operates solar, wind and hydroelectric power plants in Canada, Chile, France and the US.

¡Congratulations to our lawyers!


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