White & Case Advises Nautilus Energy Partners in the Refinancing of a Bridge Loan
Global law firm White & Case LLP has advised Nautilus Energy Partners LLC, a portfolio company of I Squared Capital, in the refinancing of a bridge loan obtained in September 2018 by Nautilus Inkia LLC, Nautilus Distributions LLC and Nautilus Isthmus LLC to partially finance the acquisition of the capital stock (25%) of both Samay and Kallpa Generación by the Inkia Energy group.
The financing provided for an initial tranche of US$200 million for the refinancing of the Kallpa and Samay acquisition bridge loan with an optional increase in an aggregate amount not to exceed US$238 million. The financing is secured by a collateral package including first lien and second lien security interests over the capital stock of various entities within the Inkia Energy group and secured deposit accounts located in New York. The complex security structure involved aspects of New York, Peruvian and Cayman Island law and the negotiation of intercreditor arrangements among the first lien and second lien creditors.
The White & Case team that advised on the transaction was led by partners John Anderson in São Paulo and Marwan Azzi in New York. The team also included partners Andrew Weisberg, Gregory Owens and John Donovan, and partner of counsel Sylvia Chin and associate Nathalia Osorio in New York; and associates Ana Maria Arias and Rosa Llamo in Miami.
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