Cuatrecasas represents ISA in $330m bond issue
Cuatrecasas has advised Interconexión Eléctrica S.A. E.S.P. on a US$330 million bond issue in the international capital markets
Cuatrecasas has represented Interconexión Eléctrica S.A. E.S.P. (ISA), a power generation, energy marketing and road development company, in its first bond issue in the international capital markets for a total of $330 million US dollars.
The issue, listed on the Singapore Stock Exchange, had investors from the United States, Canada, Europe, Asia and Latin America; and received a BBB (stable) rating from Fitch Ratings and a Baa2 (stable) rating from Moody’s. The total term of the issue is 12 years, had an interest rate of 3.825% and an oversubscription of 4.3 times the amount offered.
The proceeds will be used for an internal and external debt replacement transaction, as well as to continue ISA’s strategy to diversify its sources of financing until 2030.
Cuatrecasas’ team included partners Manuel Quinche (pictured top left), Macarena Ravinet Lyon (pictured bottom left) and Aldo Reggiardo Denegri (pictured right), senior associates Fabio Ardila and Camila Kutz Escobar, and associates Víctor Pedro León and Tomás Montes Miquel.
