Latham & Watkins Advises on GIP’s US$580 Million Private Placement Financing

Latham & Watkins advised an affiliate of Global Infrastructure Partners (GIP) in connection with the private placement of approximately US$580 million in senior secured notes by its portfolio company in Chile. The financing also included a senior secured letter of credit facility.

The transaction refinanced existing holdco-level back-leverage financing incurred in connection with a portion of GIP's joint venture renewable energy portfolio in Chile with AES. The portfolio comprises five wind farms with approximately 434 MW of installed capacity and four solar photovoltaic plants with co-located battery energy storage systems, totaling approximately 648 MW of solar generation capacity and approximately 485 MW of battery storage capacity.

Latham & Watkins LLP represents an affiliate of GIP in the transaction with a cross-practice team led by partner Carlos Ardila, with associates Andres Chester and MinJoo Lee, and Nicolas Marvan,* and assistance from international visiting associate Rodrigo Vazquez Sainz. Advice was also provided on tax matters by partner Elena Romanova, with assistance of international visiting associate Jorge Hinzpeter;** on sanctions, anti-corruption, and anti-money laundering by partners Matthew Salerno and Andrew Galdes; and on investment company matters by partner Jennifer Tian.***

* Admitted to practice in Mexico only.
**Admitted to practice in Chile only.
***Admitted to practice in Illinois only.