Chadbourne Represents Lenders on the Grant of $180 Million Credit Facility to Transelec
July 18, 2012
Chadbourne & Parke LLP represented Scotiabank & Trust (Cayman) Ltd., The Bank of Tokio-Mitsubishi UFJ, Ltd., DNB Bank ASA, Agencia en Chile, and The Bank of Nova Scotia as lenders in connection with the grant of a US$180 million revolving credit facility to Transelec -- a Chilean electricity transmission company.
Transelec operates an electricity network which spans more than 8,000 kilometers and provides electricity to 98% of Chileans. The proceeds of the transaction, which closed July 9, 2012, will be used by Transelec for general corporate purposes.
“This was a challenging transaction which required hard work and close coordination between the various parties and counsel involved. It was completed in record time and will allow Transelec to strengthen its financial profile. We are happy to be able to advise the Administrative Agent and the lenders on such an important transaction,” said Chadbourne partner Carlos Albarracin.
The Chadbourne team on the deal was led by New York partner Carlos Albarracin and included associate Jean Migdal, and international associate Augusto Caceres.