L&W acts on placement of promissory notes and facility for BlackRock Chile
Latham & Watkins acted as advisor to the investors and banks involved in a private placement of promissory notes and a documentary credit facility for BlackRock’s portfolio of operating renewable energy projects in Chile.
The transaction consisted of the purchase of notes issued under Section 4(a)(2) of the Securities Act of 1933. The notes refinanced outstanding debt under the three-year revolving credit facility provided by BNP Paribas and Natixis.
The private placement includes an operating portfolio of approximately 200 MW and is supported by a letter of credit facility provided by BNP Paribas and Natixis. These banks also acted as placement agents in the private placement.
The investment banks advised were Denham, HSBC Asset Management, IFM, Manulife, MetLife Investment Management and Pension Insurance Corporation. The firm also separately represented Delaware Trust as administrative agent.
L&W’s team was led by partner Guido Liniado (pictured), with support from associate Andres Chester and assistance from Yasmin Tayar and Catalina Ucros. An independent team led by counsel Sosi Biricik advised Delaware Trust.
