A&O Shearman represents banks on Sociedad Transmisora Metropolitana’s USD630 million green project bond offering

STM is a leading Chilean power transmission company and a subsidiary of Grupo Saesa, a joint venture between Ontario Teachers’ Pension Plan and Alberta Investment Management Corporation.  

The proceeds of the bonds were used by STM, together with the proceeds of a bond offering in the Chilean market, to repay a syndicated credit facility used to finance Grupo Saesa’s acquisition of Enel Transmisión Chile, the principal power transmission company in Chile’s metropolitan region. An amount equal to the net proceeds from the offering is intended to be allocated to finance and/or refinance, in whole or in part, one or more eligible green projects. 

The A&O Shearman team was led by New York-based energy and infrastructure partner Augusto Ruiloba and New York-based capital markets partner Alejandro A. Gordano. The team included associates Gonzalo Robles, Amanda Muniz and Hanan Al-Malssi, staff attorney Gabrila Laufer, law clerk Ana Gabriela Martinez Kruyff, visiting attorney Teresa Zuniga, and paralegal Anika Pemmaraju. Partner Lorenz Haselberger and associate Edgardo Martinez Gastelum provided tax advice.