Cariola assists Natixis in €300m credit facility for State Grid Chile

Cariola Díez Pérez-Cotapos has advised Natixis on a 300 million euros credit facility granted to State Grid Chile

 Cariola Díez Pérez-Cotapos has assisted Natixis, Hong Kong Branch, as lender, in connection with a €300 million credit facility, denominated in Chilean pesos, granted to State Grid Chile holding SpA and guaranteed by its Chinese parent State Grid International Development Limited.

This transaction was closed on 16 August. The loan will be used to finance part of the purchase price of the shares of Compañía General de Electricidad S.A. (CGE). (CGE). The financing agreement was governed by Hong Kong law, as well as by the guarantee of the parent company.

Clifford Chance Hong Kong, as well as Carey & Cia, acted as advisers to the bank in Hong Kong.

State Grid Corporation of China is the world’s largest state-owned electricity company, engaged in electricity supply; investment in, construction and management of electricity grids in China; and generation and transmission services. It serves 1.1 billion customers in 26 provinces, regions and municipalities, covering 88% of China. It also operates international assets in the Philippines, Brazil, Portugal, Australia, Italy, Greece, Oman, Chile and Hong Kong.

Clifford Chance’s team was led by partner Terry Yang, assisted by senior associate Yan Li, and associate Yvonne Cheng.

Carey & Cia. team was led by partner Felipe Moro, together with associates Alejandra Daroch and Natalia Reinicke.

Cariola’s team was led by partner Rodrigo Sepúlveda (pictured left) and associate Glen Rybertt (pictured right).