Paul Hastings LLP advised the senior project finance lenders on Mainstream Renewable Power’s in-court and out-of-court restructuring of Cóndor Energía SpA and Huemul Energía SpA, which are part of Mainstream’s 1.4 GW owned Andes Renovables wind and solar platform in Chile. The senior debt, which exceeds US$1 billion in the aggregate, was restructured to provide financial stability for the operation of the projects via the completion of successful reorganization proceedings in Chile for both Condor Energia and Huemul Energia. The restructuring, which injected US$145 million of new equity into the two Chilean entities, also involved the issuance of a new secured line of credit to Mainstream by DNB Bank. Separately, the firm also represented the senior project finance lender group in connection with the payoff of the Copihue Energia SpA project financing.

Financial Restructuring partner Pedro Jimenez and Energy and Infrastructure partners Alex Padres and Greg Tan led the Paul Hastings team, which also included associates Rita Ghanem, Eduardo Morande, Gabriella Jassir, and Ana Perez Borja on the project finance team, and Of Counsel Eric Stolze and associate Shlomo Maza focused on the litigation and restructuring aspects.  

More information can be found here.

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