$400 Million Energy Infrastructure Loan Secured to Bolster and Expand Chilean Power Grid
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.
Prime Energía will use the loan proceeds to construct backup power generation plants across Chile
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