Clifford Chance advises on CEL’s notes issuance guaranteed by the Republic of El Salvador

Clifford Chance has represented BofA Securities, as initial purchaser, on the US$580 million offering by Comisión Ejecutiva Hidroeléctrica del Río Lempa (CEL)of 8.650% Notes due 2033.

This marks CEL’s inaugural international notes issuance, with the Notes fully guaranteed by the Republic of El Salvador, reinforcing investor confidence in the transaction.

CEL is an autonomous public entity of the Republic of El Salvador responsible for developing and managing the country’s energy resources. Its core mission is the generation of electricity from renewable sources, with a strong focus on hydroelectric power.

Partner Hugo Triaca led Clifford Chance’s team along Joyce Moore, Alexandra Machado and Agata Radajczyk, and foreign lawyer Juan Andrés Bosch.