PPU advises on credit facility granted to Transelec
Philippi Prietocarrizosa Ferrero DU & Uría Chile has advised the lenders in connection with a credit facility for Transelec, Chile’s leading power transmission company, transporting the power that lights 98% of the population living between Arica and Chiloé.
The transaction closed on 8 February with Milbank acting as NY counsel to the lenders, and Shearman & Sterling acting as NY counsel to the borrower.
MUFG Bank acted as administrative agent and lender; while Banco Bilbao Vizcaya Argentaria, NY branch; Bank of America; Bank of China Limited, Grand Cayman Branch; and The Bank of Nova Scotia acted as lenders.
PPU’s team was led by partner Daniel Parodi (pictured), with the support of associates Juan Ignacio Rosales and Tomás Canales.
