Cleary Gottlieb represented longtime client Colbún, a Chilean electric power company, and its recently acquired subsidiary Fenix Power Perú, in its entry into a $365.7 million secured credit facility.
The Bank of Nova Scotia and Sumitomo Mitsui Banking Corporation acted as lenders. The proceeds of the loans were used to repay Fenix’s Power Perú S.A outstanding $362 million secured credit facility with Banco BTG Pactual. The new financing closed on February 5, 2016.