Peruvian transmission line operator Consorcio Transmantaro (CTM) has issued $200 million in green bonds, which will be used to finance and refinance projects in the country.
CTM is owned by Interconexión Eléctrica, which holds a 60% equity interest, and Grupo Energía de Bogotá, which holds the remaining 40%.
BofA Securities and JP Morgan acted as initial purchasers on the issuance of 4.700% senior notes due 2034, and which were issued in a reopening transaction and form a single series with the $400,000,000 principal amount of notes that were originally issued by CTM in April 2019.
Following the closing of the reopening transaction, notes for an aggregate principal amount of $600 million are outstanding.
The notes are labeled as ‘green bonds,’ the proceeds of which will be used to refinance a short-term facility used to invest in the Mantaro-Nueva Yanango-Carapongo Interconnection, and the Nueva Yanango Nueva Huánuco Interconnection.
The notes are listed on the Official List of the Luxembourg Stock Exchange and trade on the Euro MTF Market of such exchange.
Clifford Chance acted as counsel to BofA Securities and JP Morgan, with a team led by capital markets partner Hugo Triaca, and which also included associates Lane Feler and Edwin Ramirez-Homs, while partner Avrohom Gelber advised on tax matters.