Shearman & Sterling advises Chilean power company on senior note offering

Shearman & Sterling advised Chilean power company AES Gener S.A. on its Rule 144A/Regulation S offering of US$425 million aggregate principal amount of its 5.000% senior notes due 2025.


AES Gener is engaged, directly and through its subsidiaries, in the generation, transmission and supply of electricity in Chile, Colombia and Argentina.

AES Gener used the net proceeds of the offering to repay project finance debt of its subsidiary, Empresa Eléctrica Nueva Ventanas S.A., as well as pay the purchase price and transaction costs in connection with the simultaneous local tender offer it undertook in Chile of its existing Chilean 8.0% Series Q Notes due 2019.

Any remaining funds will be used for general corporate purposes, including the working capital needs of its subsidiaries.

The Shearman & Sterling team included partners Antonia Stolper (New York-capital markets) and Alexandro M. Padrés (New York-Project Development & Finance).

Shearman & Sterling advises Chilean power company on senior note offering

Ben Cook

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