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$400 Million Energy Infrastructure Loan Secured to Bolster and Expand Chilean Power Grid

July 13, 2018

New York – Paul Hastings LLP, a leading global law firm, announced today that the firm is advising Glenfarne Group, a privately held energy and infrastructure development and management firm, in connection with a $400 million syndicated senior secured loan to subsidiary company Prime Energía. The loan is to be provided by a syndicate of banks led by Sumitomo Mitsui Banking Corporation and Natixis.

Prime Energía will use the proceeds to construct five new backup power generation plants across Chile and to refinance its existing senior debt. Once completed, these new power plants will support the growth and adoption of renewable energy onto the Chilean electrical grid by providing backup power that addresses the intermittent generation of renewables and transmission system outages.

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Prime Energía will use the loan proceeds to construct backup power generation plants across Chile

Energy and Infrastructure partner Bob Kartheiser and associate Yana Lantsberg led the Paul Hastings team, which also included associate Inho Ko and foreign associate Bruna Rey.

At Paul Hastings, our purpose is clear — to help our clients and people navigate new paths to growth. With a strong presence throughout Asia, Europe, Latin America, and the U.S., Paul Hastings is recognized as one of the world’s most innovative global law firms.