Cerro del Aguila Raises USD650 Million in Public Offering of 4.125% Notes Due 2027

Published: Aug 09 2017
Deal Summary

Cerro del Aguila S.A, a hydro power generation company and a subsidiary of Kenon Holdings Ltd., has completed the public offering of 4.125% senior unsecured notes due August 16, 2027, for gross proceeds of USD650 million. The bonds were issued at 99.87% of the principle amount. Interest on bonds will be paid semi annually.

Credicorp Capital Sociedad Titulizadora S.A., Credit Suisse Group AG, JPMorgan Chase & Co., and ScotiaBank acted as bookrunners to the company for the offering, while Milbank, Tweed, Hadley & McCloy LLP acted as legal advisors to initial purchasers.

The Milbank team was led by Global Capital Markets partner Carlos Albarracín along with special counsel Ben Garcia and associates Andres Osornio and Alexander Barlow. It also included the head of its Global Project, Energy and Infrastructure Finance practice Dan Bartfeld, as well as associates Jeffrey Leider and Genevieve Fox.

The company intends to use the proceeds to repay certain of its existing indebtedness, related costs, and shareholder loans.

Deal History:

Announced: On August 9, 2017, Cerro del Aguila announced a public offering of 4.125% international bonds due August 16, 2027, for gross proceeds of USD650 million.

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