IJ-Global-2019

Celeo Redes Chile Transmisión awarded with Latin America “Deal of the year” at IJGlobal Awards 2019

This remarkable transaction to fund Celeo Redes Chile Transmisión, totaling more than 550km of transmission lines and eight substations, was the first of its kind in the country. A single asset manager private placement that included construction risk and a delayed-draw of the notes, the transaction was also notable for carrying a 30-year tenor.

The finance structure was innovative for both private placement investors and rating agencies. It required a project finance structure with usual covenants, EoDs and security package to maximize leverage while accommodating the brownfield asset and the two large construction projects.

This ground-breaking transaction is another milestone in the continued success of project Celeo.