Milbank, Tweed, Hadley & McCloy advised Mizuho Bank in its role as lender and administrative agent in the $270 million senior unsecured revolving facility for E.CL, a Chilean utility company.
E.CL is a Chilean generator engaged in the production, transportation, distribution, and supply of electrical energy in Chile. It is also involved in the purchase, sale, and transportation of natural gas.
E.CL is the country’s largest generator on the northern SING grid, representing 45.73% of the installed capacity (2,103.5MW).
The company’s assets include centrals Chapiquiña (10MW), El Aguila I (2MW), Diesel Arica (14MW), Diesel Iquique (43MW), TE Tocopilla (1,004MW), C.Tamaya (104MW), TE Mejillones (592MW), CT Andina (169MW) and CT Hornitos (170MW).
E.CL – which was founded in 1981 and is based in Santiago – has 2,275 kilometres of transmission lines.
New York-based alternative investments practice partner Blair Tyson, global securities partner Carlos Albarracín and alternative investments associate Anthe Maria Vorkas led the Milbank team, which also included transportation partner Dara Panahy, tax partner Andrew Walker, global corporate partner Matthew Ahrens and associates, Bijan Ganji and Michael Goon.