Chadbourne Represents EEB in Placement of $610 Million in International Bonds
November 11, 2011
Chadbourne & Parke represented Colombian utility Empresa de Energía de Bogotá S.A. E.S.P. ("EEB") in connection with the placement of US$610 million aggregate principal amount of its 6.125% Senior Secured Notes Due 2021 pursuant to Rule 144A and Regulation S under the Securities Act of 1933.
The deal, which closed on November 10, was priced on November 3. The proceeds from the offering are to be used to repurchase existing debt.
"The transaction was a great success for EEB and all parties involved, as it closed successfully in the middle of the European debt crisis," noted Chadbourne partner Carlos Albarracin. "Despite the timing of the deal, the pricing was very favorable to EEB which confirms that investors around the world have confidence in EEB’s ability to continue to grow and diversify its business while maintaining a strong financial profile."
The initial purchasers for the offering were Deutsche Bank Securities Inc. and Santander Investment Securities Inc. The trustee for the offering was The Bank of New York Mellon.
The Chadbourne team on the deal included partner Carlos T. Albarracín, associates Nilo J. Barredo and Jaime Huertas, and visiting attorneys Claudia Velarde, Augusto Caceres and Maximo Bomchil.