Milbank LLP advised The Bank of Nova Scotia, as lender, in connection with the financing of the acquisition of Etenorte S.R.L. and Eteselva S.R.L. by Interconexion Electrica S.A. (“ISA”) from I Squared Capital, which also controls Inkia Energy and has significant operations in Peru and Central America. Etenorte S.R.L. and Eteselva S.R.L. are two power transmission companies located in Peru with more than 740 km of 220kV & 138kV transmission lines.
ISA, through its companies in Peru – Red de Energia del Peru, Consorcio Transmantaro, and ISA Peru – operates over 11,000 km of transmission lines across 21 regions, benefiting more than 21 million Peruvians and having a positive impact on 1,860 communities.
The Milbank deal team was led by Global Capital Markets partner Carlos Albarracín, along with associates Pablo Richards. Taylor Andrews and Ana Bueno.
Mr. Albarracín said: “Milbank is pleased to have advised Scotia on this important energy financing transaction in Peru, which will contribute to expanding ISA’s already significant footprint in the Peruvian power transmission market.”
Milbank continues to have a strong presence in Peru and a deep client base in the country. Recent representations in Peru include: Credicorp’s $500 million inaugural bond offering, Banco de Crédito del Perú’s new notes offering and subsequent tender offers, Consorcio Transmantaro’s landmark 15-year green bond offering, the refinancing of the Samay/Mollendo power plant, the Parque Eólico Marcona S.A.C. and Parque Eólico Tres Hermanas S.A. US private placement, Hunt Oil Company of Peru’s $600 million inaugural bond offering, the $940 million bond offering by PERU LNG, I Squared’s acquisition of IC Power and the $450 million bond offering and subsequent $150 million re-tap by Inkia Energy Limited.
