$300 Million Secured Loan Facility by Empresa Inversora Energética S.A. and Tesnik Dos Holdings

March 17, 2017

Cleary Gottlieb represented Empresa Inversora Energética S.A. (EIESA), a sociedad anónima organized under the laws of Argentina, as borrower, and Tesnik Dos Holdings Limited, a company organized under the laws of England and Wales, as guarantor, in a loan facility in an aggregate principal amount of up to $300 million, arranged by UBS Securities LLC.

UBS AG Stamford Branch acted as administrative and collateral agent. The proceeds from the facility were used in part to pay a portion of the purchase price to acquire Empresa Distribuidora de Energía Atlántica S.A. (EDEA) and Empresa Distribuidora La Plata S.A. (EDELAP), two electricity distribution companies based in the Province of Buenos Aires, Argentina.

The aggregate purchase price totaled over $168 million. Each of EDEA’S and EDELAP’s concession areas cover a population of 1.58 million and 1 million, respectively.  The transaction closed on March 17, 2017.