Guido Liniado

Mr. Liniado’s experience includes advising on:

Project Finance, Project Bonds, and Multi-source Finance

Infrastructure

• Rumichaca-Pasto 4G toll road (Colombia) – representing Goldman Sachs and JP Morgan, as joint global coordinators, joint bookrunners, and initial purchasers, and MUFG, SMBC, Societe Generale, CACIB, Siemens Financial Services, FDN, Bancolombia, and Banco Davivienda, as lenders, letter of credit issuers, and/or hedge providers in the largest-ever financing for a toll road in Colombia; the first to include a project-level letter of credit facility and the first project bond investment by the IDB Group in Latin America (Infrastructure Financing of the Year by LatinFinance; Funding of the Year for Latin America in Transportation by IJGlobal; Financing of the year in Latin America in Highways by Proximo; Funding of the year of the Andes in Infrastructure - Financial innovation of the year by LatinFinance; and Financing of the year by Bonds & Loans Latin American & Caribbean Awards 2022)
• Rio Magdalena 2 4G toll road (Colombia) – representing Goldman Sachs, as sole global coordinator, initial purchaser and commitment provider, Banco Santander, as arranger and commitment provider, and SMBC, CACIB, ICO, BCP, Siemens Financial Services, Bancolombia, FDN, and Fondo de Deuda Senior para Infraestructura en Colombia CAF-AM Ashmore I, as lenders, in the first multi-source financing for a toll road in Colombia to combine UVR-indexed notes, international loans, local loans, and interest rate and currency hedges (Americas Transport Deal of the Year by Project Finance International; Latin America Road Deal of the Year by Proximo; Road Financing of the Year by LatinFinance)
• Puerta de Hierro 4G toll road (Colombia) – representing Banco Santander and BTG as joint bookrunners and initial purchasers, and Banco Santander, as social bond structuring agent, in the inaugural DFC-guaranteed project bond in Latin America and the first social bond for an infrastructure project in Latin America (Local Currency Financing of the Year award by LatinFinance)
• Mar 2 4G toll road (Colombia) – representing a consortium led by China Harbour Engineering Company Limited (CHEC) in the first private investment by a Chinese company in a 4G toll road*
• Alto Magdalena 4G toll road (Colombia) 
  • Representing SMBC, MUFG, Banco de Bogota, Fondo de Capital Privado Deuda Infraestructura Colombia, Fondo de Deuda Senior para Infraestructura en Colombia CAF-AM Ashmore I, and FDN, as lenders, in the first international refinancing of a 4G toll road*
  • Representing Goldman Sachs, as arranger and commitment provider, and CABEI, Banco de Bogota, Banco de Occidente, Banco AV Villas, and Banco Popular, as lenders, in the multi-currency project financing (Best Local Currency Financing by LatinFinance)*
• Ruta al Mar private initiative toll road (Colombia) – representing Goldman Sachs, as sole global coordinator, initial purchaser, commitment provider and hedge provider, and FDN, Bancolombia, and Fondo de Deuda Senior para Infraestructura en Colombia CAF-AM Ashmore I, as lenders, in the first private initiative and traffic risk toll road to be financed in Colombia (Transport Deal of the Year by IJGlobal)*
• Costera 4G toll road (Colombia)
  • Representing Bancolombia, Banco de Bogota, Banco de Occidente, and Fondo de Deuda Senior para Infraestructura en Colombia CAF-AM Ashmore I, as senior lenders, in the acquisition by ISA in the first M&A for a 4G project
  • Representing Goldman Sachs, as sole global coordinator, initial purchaser, commitment provider and hedge provider, Scotia Capital, as co-manager, and Bancolombia, Banco de Bogota, Banco de Occidente, and Fondo de Deuda Senior para Infraestructura en Colombia CAF-AM Ashmore I, as senior lenders, in the multi-source and multi-currency bank/bond financing*
• Pacifico 3 4G toll road (Colombia) – representing Goldman Sachs, as global coordinator, initial purchaser, commitment provider, and hedge provider, and Bancolombia, Itau Corpbanca, and Compartimento A del fondo de capital privado FCP Deuda Infraestructura II Sura - Credicorp Capital, as senior lenders, in the first-ever project bond in Colombia (Latin American P3 Deal of the Year 2016 by Project Finance International; Project Finance Deal of the Year 2016 by Latin Lawyer Magazine; Best Road Financing and Best Infrastructure Financing 2016 – Andes by LatinFinance)*
• VGMobility Transmilenio e-buses (Colombia) – representing Vitol and VGMobility in a US$95 million multi-tranche financing for three Transmilenio concessions

Energy

• BlackRock PMGD Platform Revolving Financing (Chile) – representing Natixis and BNP Paribas on a US$250 million revolving financing to establish BlackRock’s 400MW+ PMGD Platform in Chile, which is expected to be the largest in the Chilean market 
• Solek Renewable Energy Mezzanine (Chile) – representing BlackRock in the US$75 million mezzanine delayed draw private placement to finance Solek’s equity funding obligations in connection with the senior financing of a portfolio of utility-scale and PMGD projects
• Reden Solar PMGD (Chile) – representing the investors in US$135 million dual delayed-draw private placements structured by Credit Agricole Securities for the Reden Group’s 180 MW PMGD portfolios
• InterEnergy Wind and Solar PMGD (Chile) – representing HSBC Asset Management, as investor for its managed accounts, in the inaugural private placement structured by Scotiabank for InterEnergy’s PMGD wind and solar portfolio
• Las Cumbres Wind Farm and T-line (Guatemala) – representing Grupo Terra, as sponsor, and Transmision de Electricidad, as borrower, in the project financing and dividend recapitalization by DEG, FMO, and Proparco, as lenders, for the Las Cumbres wind farm and transmission line*
• Albanesi Co-Generation Power Plants (Argentina) – representing Albanesi in the US$395 million financing for the development of the 133MW Arroyo Seco co-generation power plant and the refinancing of the 170MW Timbúes co-generation power plant*
• Renace Hydro Financing, Accordion and Refinancing (Guatemala) – representing Bancolombia and a group of other Colombian and Central American banks in the US$465 million financing, accordion and refinancing for the development of four hydro projects with a combined capacity of 246 MW sponsored by Renace*
• Reventazon Hydro B-bond (Costa Rica) – representing BNP Paribas, as arranger and placement agent, in the multi-source US$1 billion financing for the 306 MW Reventazon hydroelectric project, which included a “B bond” and bank loans made by IDB, IFC, and a syndicate of local banks (Best Infrastructure Financing – Central America by LatinFinance)*

Securitization and Structured Finance

• Chile Tariff Stabilization – representing Goldman Sachs, as sole global coordinator, bookrunner, initial purchaser and commitment provider, in the US$489 million zero coupon note offering by Chile Electricity PEC to finance the purchase from AES Gener, Enel Green Power, Engie, Colbun, and certain of their affiliates of electricity tariff receivables originating under the Chilean Tariff Stabilization Law (Bond of the Year by LatinFinance)
• Smart Luz (Brazil) – representing Goldman Sachs, as arranger, bookrunner, and initial purchaser in connection with the issuance of Brazilian law bonds to be repackaged into a DFC-guaranteed 144A/Reg S bond financing for the public lighting and smart city service project in the City of Rio de Janeiro, Brazil. The landmark transaction represents DFC’s first guaranty for a repack transaction in Latin America and its second guaranteed project bond in Latin America. (Latin America PPP Deal of the year by Proximo, Latin America Social Infrastructure Deal of the Year by IJGlobal, Sustainability Project Bond of the Year by Environmental Finance)
• Rutas 2 y 7 toll road (Paraguay) – representing Goldman Sachs, as global coordinator and joint bookrunner, and Itau BBA, as joint bookrunner, in the US$657 securitization of PDIs to finance the first toll road awarded under the PPP scheme in Paraguay, the largest-ever private investment in Paraguayan infrastructure. The transaction also included the first letters of credit issued by the IDB Group to support advances under the bond to fund working capital (Latin America PPP Deal of the Year by Proximo; Infrastructure Financing of the Year, Southern Cone by LatinFinance)
• Costanera toll road (Paraguay) – representing Itau BBA, as structurer and investor, and KfW and MetLife, as investors, in the US$130 million securitization via 4(a)(2) private placement of CROPs to finance the construction of the Avenida Costanera in Asunción
• Lima Metro Line 1 (Peru) – representing Mizuho, as global coordinator and joint bookrunner, and SMBC, as joint bookrunner, in the US$273 million securitization of CPAOs for the Lima Metro Line 1 Expansion*
• Panama City Metro Line 2 (Panama) – representing UBS, as sole bookrunner, initial purchaser and commitment provider, in the US$619 million securitization of CDNOs to finance the development of the integral rail system of Panama City Metro line 2, which involved the first issuance of CDNO-backed project bonds*
• Bioceanico toll road (Paraguay) – representing UBS, as sole bookrunner, initial purchaser and commitment provider, in the US$732 million first-ever securitization of CROPs to finance the construction of the Loma Plata – Carmelo Peralta segment of the Corredor Bioceanico road (Bond of the Year by LatinFinance)*
• Argentina PPP toll roads (Argentina)
  • Representing the Ministry of Finance of Argentina (acting under the institutional umbrella of the IDB Group) on the design, structuring and implementation of the multi-billion PPP program*
  • Representing the global coordinators, bookrunners, and initial purchasers in all six attempted securitizations of TPIs to finance the following projects:
    • Corredor Vial Nacional A - acting for Goldman Sachs and JP Morgan
    • Corredor Vial Nacional B - acting for Mizuho and HSBC
    • Corredor Vial Nacional C - acting for Nomura
    • Corredor Vial Nacional E - acting for Goldman Sachs, Citi, UBS, and Bank of America
    • Corredor Vial Nacional F - acting for Goldman Sachs, Citi, UBS, and Bank of America
    • Corredor Vial Nacional Sur - acting for Goldman Sachs and Itau

Acquisition, Leveraged, and other Corporate Finance

• Patria Finance Limited financing (Brazil) – representing Patria Finance Limited, as borrower, and Patria Investment Limited, as guarantor, in a $100 million loan financing by Banco Santander Brazil
• Telefonica del Peru fiber acquisition financing (Peru) – representing Telefónica in the multi-tranche financing for the acquisition by KKR of a majority stake in TdP’s fiber optic infrastructure business
• VGMobility Acquisition Finance (Colombia) – representing Vitol and VGMobility in a financing for the acquisition of a Transmilenio concession for the provision and operation of 120 electric buses
• AA2000 Exchange and New Money (Argentina) – representing CDPQ and Moneda, as investors, in AA2000’s exchange offer, consent solicitation and US$126 million issuance of notes in two concurrent debt offerings
• ColTel fiber acquisition financing (Colombia) – representing Telefónica in the multi-tranche financing for the acquisition by KKR of a majority stake in ColTel's fiber optic infrastructure business
• Telefonica Chile fiber acquisition financing (Chile) – representing Telefonica in the multi-tranche financing for the acquisition by KKR of a majority stake in Telefónica Chile’s fiber optic infrastructure business (Private Equity Deal of the Year by LatinFinance)
• Grupo R Sale and Leaseback (Mexico) – representing several entities of the Mexican Grupo R conglomerate in a secured sale and leaseback financing of the Cantarell III jack-up rig with Fels Asset Co 2, an affiliate of the Singaporean Keppel Corporation*
• ColTel loan and bond financing (Colombia) – representing BNP Paribas, Bank of America, JP Morgan, and Santander, as arrangers and lenders, on the US$320 million senior unsecured term financing to ColTel, and BBVA, BNP Paribas, BofA, JP Morgan, and Santander, as initial purchasers, on the issuance by ColTel of US$500 million senior notes*
• TPL bridge (Colombia) – representing JP Morgan and Scotiabank, as joint bookrunners, lead arrangers, lenders, and initial purchasers, on the US$80 million bridge financing to TermoCandelaria Power, and its subsequent US$186 million notes reopening out of Colombia*
• Transtech private placement (Peru) – representing a Peruvian asset manager and its funds on a multi-closing 4(a)(2) private placement of PIK notes structured to coexist with debt-like preferred shares and pari passu debt*
• EGE Haina loan (Dominican Republic) – representing Bancolombia, as arranger and lender, on the US$130 million financing for the acquisition by Putney Capital Management and Darby Private Equity of a significant indirect stake in EGE Haina, the largest energy generator in the Dominican Republic*

*Matter handled prior to joining Latham