New York – Paul Hastings LLP, a leading global law firm, advised the note purchasers and letter of credit providers on the refinancing of the non-recourse debt of a portfolio of renewable assets in Chile owned by Innergex Renewable Energy Inc. The financing consisted of a US$710 million issuance of green bonds maturing in 2036 and a US$93.1 million letter of credit facility.

The financing is among the largest private placements in Latin America in recent history. In addition to refinancing the portfolio’s debt, the provides capital for the construction of Innergex’s first battery energy storage project in Chile.

SMBC and CIBC World Markets Corp. acted as placement agent (books) and co-agent, respectively, for this transaction. SMBC also acted as financial advisor to Innergex in respect of the structuring of the transaction, as sole green bond coordinator, and as sole issuing bank of the letter of credit facility.

The Paul Hastings team was led by partner Elicia Ling; of counsel Maria Tobia; and associates Bruna Rey and Eduardo Morande, in New York; and Dr. Fritz Klewata and associate Marc Soltau, in Frankfurt.

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