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Latham & Watkins Advises Investors and Letter of Credit Banks on Inaugural Note Private Placement and Letter of Credit Facility for BlackRock’s Renewable Power Platform in Chile

June 11, 2024
Members of the firm’s Latin America Practice assisted the investors and the banks involved in a note private placement and a letter of credit facility for BlackRock’s portfolio of operating renewable power projects in Chile.
Latham advised Denham, HSBC Asset Management, IFM, Manulife, MetLife Investment Management, and Pension Insurance Corporation, in their purchase of notes issued under Section 4(a)(2) of the Securities Act of 1933. The notes refinanced the outstanding debt under the three-year revolving credit facility provided by BNP Paribas and Natixis, which Latham also advised on. The private placement includes an approximately 200 MW operational portfolio and is supported by a letter of credit facility provided by BNP Paribas and Natixis. These banks also acted as placement agents in the private placement. 

Latham separately represented Delaware Trust as Administrative Agent.

The Latham & Watkins LLP deal team was led by partner Guido Liniado, with associate Andres Chester* and with assistance from Yasmin Tayar** and Catalina Ucros.*** A separate team led by counsel Sosi Biricik advised Delaware Trust.

*Not admitted to practice in New York. Admitted in Argentina.
** Admitted to practice in Brazil only.
***Admitted to practice in Colombia only.