White & Case Advises a Group of Leading Power Generators In Chile on Purchase and Sale Facilities

Global law firm White & Case LLP has advised a group of leading renewable power generators in Chile in negotiating and closing purchase and sale facilities pursuant to which the generators will sell certain receivables created under Law No. 21, 472 of Chile.

"We are delighted to have again worked with a group of our renewable power clients in Chile," said White & Case partner Thomas Pate, who led the deal. "This complex and important transaction drew on our project and debt finance capabilities, as well as our securitization and capital markets expertise."

IDB Invest acted as purchaser of record, and the purchase price is financed pursuant to an A/B bond in an aggregate amount of up to US$1.8 billion. Goldman Sachs, J.P. Morgan and Itaú BBA acted as joint bookrunners for the transactions. Citibank, N.A. acted as purchase facility administrative agent and offshore purchase facility bank; Banco de Chile as onshore purchase facility bank; and Administradora de Fondos de Inversion Amicorp S.A. as onshore administrative agent and onshore verification agent.

The Project Development and Finance team was led by partner Thomas Pate and included associates Angeles Femenia and MinJoo Lee (all in New York).

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