Garrigues assists in Kallpa bond issue
Garrigues has locally assisted Deutsche Bank Securities, J.P. Morgan Securities and Santander US Capital Markets (Banks), as initial purchasers and joint book-running managers of a USD $500 million international bond issue by Kallpa Generación.
The issuance was made on 30 January, pursuant to Regulation S and Rule 144A under the US Securities Act of 1933.
The proceeds will be used to finance (i) a portion of the construction of the Sunny Project, a 309 MW solar plant in Arequipa, Peru, including the repayment of certain outstanding loans, (ii) the cash tender offer (the Tender Offer) to repurchase Kallpa’s 4.875% Senior Notes due 2026 (the 2026 Notes); and (iii) the redemption of the remaining 2026 Notes following the expiration and settlement of the Tender Offer (the Redemption).
Other advisory firms were A&O Shearman as US counsel to the Banks; and White & Case and Miranda & Amado acted as international and local counsels to Kallpa, respectively.
Kallpa is a leading Peruvian power generation company, which owns, develops and operates two combined cycle power plants, Kallpa and Las Flores, a hydroelectric power plant, Cerro del Aguila, a battery energy storage system and is building a 309 MW solar plant, Sunny.
Marisol Haro, Carlos Leon and Andres Pesaque acted as in-house counsels to Kallpa.
A&O Shearman’s team included partner Alejandro Gordano, associate Pedro de Elizalde and visiting attorney Regina Odar.
Garrigues’ team was led by partner Diego Harman (pictured), with support from associates Jimena Valega and Germán Gómez.
White & Case’s team consisted of partner Andrew Weisberg and associates Brian Munsie and Heidi Ahmed.
Miranda & Amado’s team was represented by partners Luis Marcelo de Bernardis and Gabriela Dañino, together with associates Gabriel Boucher and María Fernanda Lazo.
