PPU counsels lenders on Colbun’s $600m issue

PPU Chile has advised Citigroup Global Markets, J.P. Morgan Securities, Santander Investment Securities and Scotia Capital on Colbún’s USD 600 million bond issue

 Philippi Prietocarrizosa Ferrero DU & Uría, through its Chile office, has advised Citigroup Global Markets Inc., J.P. Morgan Securities LLC, Santander Investment Securities Inc. and Scotia Capital (USA) Inc. as representatives of several initial purchasers in the issuance by Colbún S.A. of US $600,000,000,000 bonds at a rate of 3.150% per annum, maturing in 2032.

This transaction was closed on 14 October where PPU acted as Chilean counsel for the Initial Purchasers’ Representatives, Garrigues as local counsel for Colbún, Davis Polk as NY counsel for the representatives and Cleary Gottlieb Steen & Hamilton LLP as NY counsel for Colbún.

Formerly known as Colbún Machicura, Colbún is a Chilean electricity producer. Controlled by Grupo Matte, it operates 23 plants in Chile’s Central Interconnected System and one in Peru, with a total installed capacity of 3,852MW.

PPU’s team was led by partner Marcelo Armas (pictured top left), with support from associates Daniel Parodi (pictured top right), María Jesús Ibáñez (pictured bottom left) and Vera Yacher (pictured bottom right).