Central Puerto Closes $180 Million Term Loan for Power Plant Acquisition
July 2, 2019
Cleary Gottlieb represented Central Puerto S.A. (Central Puerto), a publicly listed Argentine company, in its unsecured term loan for an aggregate principal amount of $180 million to fund the acquisition of the Brigadier López Power Plant.
The Brigadier López Power Plant’s sale to Central Puerto was awarded by Integración Energética Argentina S.A. through the National and International Public Bid No. CTBL 01/2018 in February 2019.
The acquisition agreement for the Brigadier López Power Plant was executed on June 14, 2019, and closed on the same day.
Citibank N.A., JPMorgan Chase Bank N.A., and Morgan Stanley Senior Funding Inc. acted as lenders, joint bookrunners, and lead arrangers of the unsecured term loan, while Citibank N.A. acted as administrative agent.
The Brigadier López Power Plant is a simple cycle thermal power plant located in the Province of Santa Fe, Argentina, with an installed capacity of 280 MW, currently undergoing expansion projects to increase its installed capacity by an additional 140 MW.