21 March, 2019 Colombia

TermoCandelaria cross-border issuance attracts global investors

Banking, Finance and Capital Markets

White & Case LLP in São Paulo, Miami and Mexico City, Colombia’s Gómez-Pinzón and Cayman firm Maples Group have helped energy distributor TermoCandelaria Power issue debt worth US$410 million

The initial purchasers turned to Clifford Chance in New York and Philippi Prietocarrizosa Ferrero DU & Uría (Colombia) for the issuance. The offering closed on 25 January.

The issuance drew investment from Canada, Cayman Islands, Chile, Colombia, Singapore, UK and the US. Latin Lawyer understands it was the first cross-border issuance from a corporate company in Latin America of 2019.

TermoCandelaria is the fourth-largest electric power generation company in Colombia.

Counsel to TermoCandelaria Power:

White & Case LLP

Partners John Guzman in São Paulo and associates Mariana Seixas and Carlos de la Cruz in Miami

White & Case SC

Partner Sean Goldstein and associate Amaury Boscio in Mexico City

Gómez-Pinzón

Partner Daniel Londoño and Patricia Arrázola-Bustillo, and associates Daniel Flórez, Catalina Borda, Jaime Hernández and Andrés Felipe Consuegra in Bogotá

Maples Group

Partner Kieran Walsh and associate Finn O’Hegarty in Cayman Islands

Counsel to Bank of America Merrill Lynch and Scotiabank:

Clifford Chance

Partner Hugo Triaca and Avrohom Gelber, and associate Lane Feler in New York

Philippi Prietocarrizosa Ferrero DU & Uría (Colombia)

Partner Hernando Padilla and associates Nicolás Santana and Pedro Arango in Bogotá

Source: Latin Lawyer

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