Carey represents STA in $390m green bond issue
Carey has advised Sociedad de Transmisión Austral on its first $390 million green bond issue and placement
Carey has represented Sociedad de Transmisión Austral (STA), a member of the SAESA group and one of Chile’s largest electricity transmission companies, in the issuance and placement of a $390 million US dollar unsecured green bond under Rule 144A/Reg S of the US Securities Act, bearing interest at 4% and maturing in 2032.
This is the first issue of STA. The proceeds will be used to finance green projects, refinance intercompany loans and for general corporate purposes.
In this transaction, closed on 14 January, Milbank, Tweed, Hadley & McCloy acted as international advisor to STA; while Claro & Cía. and Clifford Chance acted as advisors to bookrunners Itaú and Scotiabank on a local and international basis, respectively.
Claro participated through partner José Luis Ambrosy.
Clifford Chance’s team was integrated by partner Hugo Triaca and associate Joice Morre.
Milbank’s team was led by partner Carlos Albarracín, with support from associates Mandeep Kalra and Josefina Wilkins.
Carey’s team consisted of partners Felipe Moro (pictured left), Manuel José Garcés (pictured top right), and José Tomás Hurley (pictured bottom right), together with associates Loreto Ribera, Valentina Mendoza and Tomás Hernández.
