White & Case Advises Alfa Desarrollo SpA on Financing for the US$1.3 Billion Acquisition of Colbún Transmisión, S.A.

Press Release
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Global law firm White & Case LLP has advised Alfa Desarrollo SpA, a consortium controlled by APG Energy and Infra Investments, S.L.U. and Celeo Redes, S.L.U., as borrower and issuer, in the structuring and closing of the senior secured financing for the acquisition of Colbún Transmisión, S.A. by Alfa. The transaction value is approximately US$1.3 billion. 

The acquisition will include the transfer of 899 kilometers of transmission lines and 27 substations that Colbún Transmisión, S.A. operates in the Chilean Sistema Eléctrico Nacional (National Electric System), representing approximately 5 percent to the total transmission market in Chile.

The White & Case team worked on all aspects of the financing including the issuance of 4.55 percent senior secured notes due 2051, issued pursuant to Rule 144A and Regulation S under the US Securities Act, and a senior secured letter of credit facility.

The White & Case team that advised on the transaction was led by partners Thomas Pate in New York, Jeannine Acevedo in Miami and John Anderson in São Paulo, with support from partner Carlos Viana and associates Adrian Leal, Mariana Seixas and Helena Buitrago, all in Miami; associate Monaliza da Silva in New York; and partner John Guzman in São Paulo.

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