Cuatrecasas represents on Termocandelaria financing
Cuatrecasas confirmed its role as advisor in a financing transaction in which Itaú Chile New York Branch extended USD 45 million to Termocandelaria Power.
The transaction adds to a series of cross-border financing deals in the Latin American energy sector involving Chilean and Colombian entities. It may also collaborate to strengthen Termocandelaria Power’s financial profile, enabling the company to continue supporting the reliability of Colombia’s energy matrix through its thermoelectric power plants in the Caribbean region, which have a combined net effective capacity of 1,466 MW.
Termocandelaria Power operates in the power generation sector, and financing transactions of this kind are typically used to support operational or expansion needs within the energy industry. Itaú Chile New York Branch, the international arm of Itaú’s Chilean operations, has structured similar cross-border financing arrangements for corporate clients in the region.
The Cuatrecasas team advising on the transaction was led by partners Natalia Arango from the Bogotá office, and Carlos Lasarte de Launet from the Madrid office, with support from Finance lawyers Santiago Jaramillo, María Alejandra Martínez, Daniela Mateus, and Ángel Rodríguez.
