Simpson Thacher advises Albanesi on inaugural high yield notes offering
Simpson Thacher acted for Generación Mediterránea, Generación Frías, and Central Térmica Roca, co-issuers; and Albanesi, the guarantor, in connection with the inaugural high yield notes offering.
The offering consisted of $250 million aggregate principal amount of 9.625% Senior Notes due 2023, in reliance on Rule 144A and Regulation S.
The issuers and Albanesi are part of the Albanesi Group, one of Argentina’s leading electricity generation organizations. It operates eight thermoelectric power plants across the country.
The proceedings from the offering will be used to repay secured indebtedness, fund capital expenditures relating to the expansion of generation capacity in Argentina and for general corporate purposes.
Partners David L. Williams and Juan F. Mendez led the Simpson Thacher team advising the issuers, which also retained Tavarone, Rovelli, Salim & Miani as local counsel in Argentina.
