Clifford Chance on green notes issue of Anpac
Clifford Chance has advised Banco BTG Pactual-Cayman Branch and HSBC Securities (USA), as placement agents, and the purchasers, in connection with Anpac’s issuance of secured green notes (the Notes) in a Section 4(a)(2) private placement. The Notes were guaranteed by most of Anpac’s subsidiaries.
Anpac is the holding company for the hydro portfolio of Chilean renewable energy company Grupo Cerro, which consists of 10 run-of-river power plants and has a total installed capacity of 73 MW. Most of the proceeds from the bond issue were used to repay existing debt and the remainder to support Grupo Cerro’s growth plans in Chile.
This transaction closed on March 7 and involved the jurisdictions of Chile and USA.
HSBC Bank USA National Association acted as offshore collateral agent and intercreditor agent, while HSBC Bank (Chile), acted as onshore collateral agent. These entities where advised by Carey in Chile.
In-house lawyers participating in the transaction included Eduardo González, for HSBC Securities (USA); and Ignacio Saavedra and Josefina Court for HSBC Bank (Chile).
Carey’s team comprised partner Fernando Noriega, and associates Diego Lasagna and Alejandro Toro.
Clifford Chance’s team included partner Hugo Triaca (pictured left) and associate David Rondon, with additional support from associates Joyce Moore and Fernando Liu and foreign law clerk Juan Andrés Bosch Muñoz. Partner Avrohom Gelber (pictured right) and associate Milica Pavlovic provided tax support and associate David Walsh advised on ERISA matters.
