Carey and PPU instructed on wind energy loan in Chile
Philippi Prietocarrizosa Ferrero DU & Uría acted for the lenders on a $435 million loan to Aela Energía in Chile, the borrower instructed Carey.
Aela Energía is a Chilean renewable energy company, 60% owned by Actis, the private equity fund. The company will use the loan to finance the construction and operation of three wind farms in Chile.
Sumitomo Mitsui, The Bank Of Tokyo-Mitsubishi UFJ, The Korea Development Bank, Caixabank, Kfw Ipex-Bank, Inter-American Investment Corporation were the lenders while Santander Chile acted as onshore collateral agent and MUFG Union Bank was offshore collateral agent.
Partner Marcelo Armas led the PPU lawyers advising the banks under Chilean law for matters related to finance and environment.
Carey acted for Aela Energía with partner Juan Francisco Mackenna leading the team. The borrower instructed Clifford Chance as international counsel.
The lenders retained Milbank in NY.