Diego Garay and Cristóbal Morandé

Larrain counsels Mytilineos on financing photovoltaic projects

Larrain y Asociados has counselled Mytilineos Energy & Metals, and subsidiaries, in a project financing subject to New York law, for a total amount of USD $377,000,000.

The financing is for the construction in Chile of four photovoltaic generation projects associated with long-term power purchase agreements.

Garrigues Chile advised the financing banks BNP Paribas Securities, Intesa Sanpaolo, New York Branch, Sumitomo Mitsui Banking Corporation and Rabofinance Chile. Delaware Trust Company acted as administrative agent and foreign collateral agent. Banco Santander-Chile acted as value added tax financing creditor and local collateral agent.

This transaction was signed on 16 November 2023 and closed on 19 December 2023. Milbank and White & Case acted as international counsel to Mytilineos and the creditor banks and agents, respectively.

Javiera Alarcón acted as in-house lawyer to Mytilineos.

Garrigues Chile’s team advising the senior lenders and agents included partner Pedro García, senior associate Diego Torres, associates Tomás Irarrázaval and Natalie Jana and counsel Diego Perales; the team advising the IVA lender and agents was comprised of partner Antonio Morales, senior associate Daniel Hernández, and associates Elna Petrowitsch and Mateo Weinborn.

White & Case’s team consisted of partner Thomas Pate and associates Angeles Femenia, Jia Ying, Ana Arias and Christina Fernandez.

Larrain’s team was led by partners Diego Garay (pictured left) and Cristóbal Morandé (pictured right), with support from associates Ana María Sepúlveda, Valentina Ravera and Diego de la Barra.

Milbank’s team was represented by partner Jaime Ramirez and associates Vince El Hayek, Chelsea Minuche, Eliza Schmitt and Kate Richardson.

L Giselle Estrada