We advised Kallpa Generación as borrower in a bridge loan of up to US$130 million granted by  Deutsche Bank AG, JPMorgan Chase Bank and Banco Santander. The proceeds of the loan was used to pay short-term debt and initial costs for the construction and development of a 309 MW Sunny solar project, located in La Joya district, department of Arequipa.

In addition, we advised Kallpa Generación in the issuance of its 5.875% Senior Notes due 2032 for US$500 million under Rule 144A and Regulation S of the U.S. Securities Act of 1933, as well as in the concurrent Tender Offer to purchase any and all of its outstanding 4.875% Senior Notes due 2026.   The proceeds of the new notes will be used to (i) fund a portion of the construction of a 309 MW Sunny solar project, located in La Joya district, department of Arequipa, including the repayment of outstanding borrowings under the bridge loan, (ii) fund the Tender Offer, (iii) fund the redemption of the remaining notes that were not tendered and (iv) general corporate purposes.

Miranda & Amado's team: Gabriela Dañino (Partner), Luis Marcelo De Bernardis (Partner), Gabriel Boucher (Associate) and Maria Fernanda Lazo (Associate).