Milbank, Tweed, Hadley & McCloy represented Mizuho Bank, Ltd. as lender and administrative agent in the $270 million senior unsecured revolving facility for E.CL S.A., a Chilean utility company, the proceeds of which are to be used for capital expenditures.
E.CL is a Chilean generator engaged in the production, transportation, distribution, and supply of electrical energy in Chile. It is also involved in the purchase, sale, and transportation of natural gas. E.CL is the country's largest generator on the northern SING grid, representing 45.73% of the installed capacity (2,103.5MW). The company's assets include centrals Chapiquiña (10MW), El Aguila I (2MW), Diesel Arica (14MW), Diesel Iquique (43MW), TE Tocopilla (1,004MW), C.Tamaya (104MW), TE Mejillones (592MW), CT Andina (169MW) and CT Hornitos (170MW). The company was founded in 1981 and is based in Santiago, Chile. The company has 2,275 kms. of transmission lines, a natural gas pipeline with a transport capacity of 8 million m3 per day for its distribution and sale in the north of Chile.
New York-based Alternative Investments Practice partner Blair Tyson, Global Securities partner Carlos Albarracín and Alternative Investments Practice associate Anthe Maria Vorkas led the Milbank team, which also included Transportation and Space partner Dara Panahy, Tax partner Andrew Walker, Global Corporate partner Matthew Ahrens and associates, Bijan Ganji and Michael Goon.
