L&W represents Natixis and BNP Paribas in financing for BlackRock in Chile
Latham & Watkins has advised Natixis and BNP Paribas on a US$250 million revolving financing in favour of BlackRock for the acquisition, development, construction and refinancing of a portfolio of distributed generation projects expected to be the largest in the Chilean market.
The firm advised Natixis and BNP Paribas, as lead arrangers and lenders, and BNP Paribas, as administrative agent and intercreditor agent, on the transaction, which was structured as a 3-year revolving credit facility.
The facility was sized for a PMGD platform of over 400 MW, and was initially used to refinance two previously acquired operating asset portfolios totalling 101 MW. The facility is expected to be used to acquire, develop, construct and refinance additional portfolios of both operating and construction projects sponsored by BlackRock. Once the operating assets total an appropriate number of MW, the facility is expected to be underwritten by one or more issuances of notes under Section 4(a)(2) of the Securities Act of 1933.
L&W’s team was led by partner Guido Liniado (pictured), and included partner Jason Webber and associates Andres Chester and Andrea Garcia Martinez.
