We advised Kallpa Generación as borrower in a bridge loan of up to US$130 million granted by Deutsche Bank AG|JPMorgan Chase Bank and Banco Santander. The proceeds of the loan was used to pay short-term debt and initial costs for the construction and development of a 309 MW Sunny solar project|located in La Joya district|department of Arequipa.
In addition|we advised Kallpa Generación in the issuance of its 5.875% Senior Notes due 2032 for US$500 million under Rule 144A and Regulation S of the U.S. Securities Act of 1933|as well as in the concurrent Tender Offer to purchase any and all of its outstanding 4.875% Senior Notes due 2026. The proceeds of the new notes will be used to (i) fund a portion of the construction of a 309 MW Sunny solar project|located in La Joya district|department of Arequipa|including the repayment of outstanding borrowings under the bridge loan|(ii) fund the Tender Offer|(iii) fund the redemption of the remaining notes that were not tendered and (iv) general corporate purposes.
Miranda & Amado's team: Gabriela Dañino (Partner)|Luis Marcelo De Bernardis (Partner)|Gabriel Boucher (Associate) and Maria Fernanda Lazo (Associate).