The Celeo Redes bond issue, on which Garrigues acted as adviser, named Refinancing Deal of the Year
The Latin American team was recognized by the legal community for its participation in the bond issue capitalized by Celeo Redes in the local and international markets. The transaction was named Latin American Refinancing Deal of the Year at the New York ceremony of the Latin American awards held by IJ Global, a specialist in the infrastructure and project finance sector.
Garrigues acted as adviser through its Santiago de Chile team, led by partner Pedro García together with associates Antonio Morales, Francisco Irarrázaval, Sofía Duralde and Federico Espinosa. The Garrigues team advised the placing banks (Goldman Sachs, JP Morgan and BBVA) on the local issue and acted as adviser under Chilean law for the international market. The other firms involved in the deal were Milbank, Tweed and Hadley & McCloy.
The deal, which has become a model for the capital markets sector, was worth over 600 million dollars and was designed to refinance two transmission lines in Chile already in operation and to finance the construction of a third line, all awarded to Celeo Redes. A few months ago, this bond issue was also named Best Bond, Best Power Financing and Best Infrastructure Financing: Andes at the LatinFinance awards.