Carlos T. Albarracín

Partner

Practice Description

Representative Matters

• Currently representing Barclays Capital Inc. as dealer-manager in connection with an offer by Transportadora de Gas del Norte S.A. (TGN), an Argentine operator of natural gas pipelines, to exchange approximately $340 million in Rule 144A/Regulation S notes for a combination of cash and new Rule 144A/Regulation S par notes.
• Represented J.P. Morgan Securities Inc. and Barclays Capital Inc. as initial purchasers in a Rule 144A/Regulation S offering of $1.5 billion 10-year notes by Ecopetrol S.A., Colombia's state-owned oil and gas company. (July 2009)
• Represented Pan American Energy LLC, Argentine Branch, in connection with the establishment of a $1.2 billion Rule 144A/Regulation S Global Note Program registered for public offering in Argentina. (February 2009)  
• Represented Empresa de Energía de Bogotá S.A. E.S.P., a Colombian electricity company, in a Rule 144A/Regulation S offering of $610 million 8-year notes. (November 2007) 
• Represented Transportadora de Gas del Interior S.A. E.S.P., Colombia’s largest natural gas pipeline company, in a Rule 144A/Regulation S offering of $750 million 10-year notes. (October 2007) 
• Represented Interconexión Eléctrica S.A. E.S.P., Colombia’s largest electricity transmission company, in its contemplated Rule 144A/Regulation S international offering of American Depositary Receipts. (August 2007) 
• Represented J.P. Morgan Securities Inc. and Merrill Lynch & Co. as (i) initial purchasers in a Rule 144A/Regulation S offering of $500 million 10-year notes by Transportadora de Gas del Sur S.A. (TGS), an Argentine operator of natural gas pipelines, and (ii) dealer-managers in connection with a tender offer for the outstanding Rule 144A/Regulation S notes of TGS. (May 2007) 
• Represented ISA Capital do Brasil S.A. in a Rule 144A/Regulation S offering of $354 million in 10-year notes and $200 million in 5-year notes. The notes were secured by a pledge in the shares held by ISA Capital in Companhia de Transmissão de Energia Elétrica Paulista – CTEEP. (January 2007) 
• Represented International Finance Corporation (IFC) in connection with (i) the restructuring of approximately $600 million in Rule 144A/Regulation S notes and bank debt of Transportadora de Gas del Norte S.A. (TGN), an Argentine operator of natural gas pipelines, and (ii) the issuance by TGN of $400 million in Rule 144A/Regulation S notes. (September 2006) 
• Represented the lenders’ committee of Transportadora de Gas del Sur S.A. (TGS), an Argentine operator of natural gas pipelines, in connection with (i) the restructuring of $1.02 billion in bank debt and Rule 144A and Regulation S notes and (ii) the issuance by TGS of approximately $400 million in Rule 144A/Regulation S notes. (January 2005) 
• Represented Sideco Americana S.A., an major Argentine infrastructure company, with respect to (i) the restructuring of $125 million in Rule 144A/Regulation S, through an acuerdo preventivo extrajudicial governed by Argentine law and (ii) the issuance of approximately $60 million in Rule 144A/Regulation S notes registered for public offering in Argentina. (December 2004)

Financing and Project Financing 

• Currently representing Pemex Gas y Petroquimica Basica, a subsidiary of Petroleos Mexicanos (PEMEX), in connection with the development and construction of a bidirectional natural gas pipeline connecting the state of Tamaulipas, Mexico, with Texas.
• Represented Gas Natural de Lima y Callao S.A., a Peruvian natural gas distribution company, in its contemplated secured financing for the expansion of Lima’s natural gas distribution system.
• Represented the sponsors and the project company in connection with a contemplated $200 million secured financing by Inter-American Development Bank and a group of commercial banks (as B Loan participants) for the construction and operation of a fully private, public-use, greenfield container port with infrastructure and superstructure for container berths, warehousing and logistics facilities in the state of Santa Catarina, Brazil. (2009) 
• Represented Empresas Públicas de Medellin E.S.P. in connection with a $200 million financing for construction and development of the 600 MW Porce III hydroelectric complex. The financing was provided by Bank of Tokyo-Mitsubishi and BBVA New York Branch and supported by a partial credit guarantee provided by the Japan Bank for International Cooperation (JBIC). (January 2009) 
• Represented Standard Bank plc as Administrative Agent and a lender in connection with a $70 million secured syndicated financing for Ajover S.A., a leading Colombian supplier of construction materials. (September 2008) 
• Represented Pan American Energy LLC, Argentine Branch in connection with a $200 million syndicated financing arranged by Calyon, JP Morgan Securities Inc. and ABN AMRO Bank, N.V. (June 2008) 
• Represented Organización Terpel S.A., a Colombian gasoline distribution and commercialization company, in connection with a $250 million financing arranged by J.P. Morgan Securities for the acquisition of REPSOL's gasoline distribution business in Chile. (January 2008) 
• Represented Interconexión Eléctrica S.A. E.S.P. (ISA) and ISA Capital do Brasil S.A. in a $352 million bridge credit facility to finance a public tender offer (oferta pública de aquisição) for the acquisition of shares representing 39.28% of the common stock of Companhia de Transmissão de Energia Elétrica Paulista – CTEEP. The financing was provided by JPMorgan Chase Bank N.A. and ABN AMRO Bank, N.V. (December 2006) 
• Represented Fondo de Inversión Privado Bío-Bío, as borrower, in a $240 million financing arranged by JPMorgan Securities, Inc. for the acquisition by the borrower of 100% of the equity interests in Forestal Bío-Bío S.A., Norwood S.A., and Sociedad Agrícola y Forestal Alepué Limitada, secured by a pledge in forestry assets owned by the acquired entities and future receivables of the borrower arising form purchases of timber by Celulosa Arauco y Constitución S.A. under a long-term supply contract. (October 2006) 
• Represented Interconexión Eléctrica S.A. E.S.P. (ISA) in a $550 million financing arranged by JPMorgan Securities, Inc. and ABN AMRO Bank N.V. for the acquisition of a controlling interest in Companhia de Transmissão de Energia Elétrica Paulista – CTEEP. (August 2006) 
• Represented Central Costanera S.A., an Argentine electricity generation company, in connection with a $30 million financing with Credit Suisse First Boston International, secured by a pledge on a combined cycle power plant. (October 2005) 
• Represented Companhia Vale Do Rio Doce (CVRD) in connection with (i) a $300 million financing for Aluminio Brasileiro S.A. (ALBRAS), a Brazilian company jointly owned by CVRD and Nippon Amazon Aluminum Co., Ltd., arranged by Japan Bank for International Cooperation (JBIC) secured by certain aluminum export-receivables of ALBRAS and partially guaranteed by CVRD (December 2005) and (ii) a $400 million syndicated financing arranged by The Bank of Tokyo-Mitsubishi Ltd. and covered by a political risk insurance policy issued by Nippon Export and Investment Insurance for the development of the Sossego copper mine in the state of Pará, Brazil. (April 2005) 
• Represented Empresa Nacional del Petróleo (ENAP), Chile’s state-owned oil and gas company, MAN Ferrostaal AG and Técnicas Reunidas S.A., as sponsors, in connection with certain amendments to a $100 million financing arranged by BNP Paribas and partially insured by Compañía Española de Seguro de Crédito a la Exportación (CESCE), Spain’s export credit agency, for the development and construction of a mild hydrocracking facility at a diesel refinery in Talcahuano, Chile. 
• Represented Interconexión Eléctrica S.A. ESP (ISA) in (i) the financing of a $295 million expansion project that includes two transmission lines and related substations for the Primavera – Bacatá and the Primavera – Ocaña – Copey – Bolivar line, financed by Corporación Andina de Fomento, Euler Hermes, Kreditanstalt Für Wiederaufbau (KfW) and Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden N.V. (FMO) (December 2005) and (ii) a $90 million limited-recourse project financing for the construction and operation of two electricity transmission lines and associated substations in Bolivia, financed by Inter-American Development Bank and Corporación Andina de Fomento. (April 2005) 
• Represented Empresa Nacional del Petróleo (ENAP), Chile’s state-owned company, MAN Ferrostaal AG, and Técnicas Reunidas S.A., as sponsors, in connection with (i) a $410 million financing for the development, construction and operation of a delayed coker complex at ENAP’s Aconcagua Refinery in Concón, Chile (June 2005), and (ii) a $100 million financing arranged by BNP Paribas and partially insured by Compañía Española de Seguro de Crédito a la Exportación (CESCE), Spain’s export credit agency, for the development and construction of a mild hydrocracking facility at a diesel refinery in Talcahuano, Chile. (June 2004) 
• Represented Sociedad Química y Minera de Chile S.A. (SQM), a Chilean mining company, and one of its subsidiaries in connection with a $100 million syndicated financing arranged by BBVA Securities, Inc., BNP Paribas and Rabobank Curaçao N.V. (March 2005)

Mergers and Acquisitions 

• Represented a major Latin American retail group in connection with its bid to acquire a controlling interest in Ace Home Center, a Peruvian retail company. (2008) 
• Represented Empresa de Energía de Bogotá S.A. E.S.P., a Colombian electricity company, in connection with its acquisition of the assets of Empresa Colombiana de Gas (Ecogas), a state-owned natural gas pipeline company (February 2007) 
• Represented Interconexión Eléctrica S.A. E.S.P. (ISA) in connection with its acquisition of a controlling interest in Companhia de Transmissão de Energia Elétrica Paulista – CTEEP, Brazil’s second largest power transmission company, through a privatization auction conducted by the government of the State of São Paulo on the Bolsa de Valores de São Paulo (São Paulo Stock Exchange). (August 2006) 
• Represented Wellpoint Inc., an NYSE-listed company, in connection with its acquisition of an equity interest in MCS Health Management Options, Inc., a leading health services company from Puerto Rico. (August 2006) 
• Represented Prospecta Minera Ltda. and Citicorp International Finance Corp. in connection with the sale of 99.3% of Sociedad Punta de Lobos S.A., Latin America’s largest salt producer, to K+S Aktiengesellschaft for a reported price of approximately $500 million. (April 2006)

Honors

Activities and Affiliations

Publications