Chile’s largest electricity generation companies turn to A&O Shearman for sale of PEC III securities

The transaction, which was financed by an up to USD2.4 billion A/B bond facility structured by IDB Invest, will allow our clients, as well as other Chilean electricity generation companies, to monetize the securities issued by the FET providing immediate liquidity and contributing significantly to ensuring the long-term sustainability of Chile’s power generation sector.

“Our team’s deep knowledge of the Chilean power market and IDB Invest’s A/B bond facility structure were crucial in managing the intricacies of this transaction and guaranteeing its successful completion,” said Augusto Ruiloba, energy, natural resources & infrastructure (ENRI) partner. “We have a strong track record of working with Chile’s energy sector and advising on complex and innovative finance solutions in Latin America and this deal further demonstrates our firm’s expertise and leadership in this field.”

The A&O Shearman team was led by ENRI partner Augusto Ruiloba with support from ENRI partner Cynthia Urda Kassis, global financial markets partner Azam Aziz and ENRI associates Leopoldo Melo and María Paz Delgado.