Solek. Global Financing
1. Deal Description
Guerrero Olivos represented Solek, leading company engaged in the design, construction, and operation of solar power plants in Latin America and Europe, in a USD379 million financing deal for its portfolio of solar photovoltaic projects in Chile.
This is a comprehensive funding, consisting of various facilities, including private placements, bridge loans, and lines of credit, which underscores our clients’ commitment to driving the renewable energy revolution forward. More specifically, it included a USD178 million senior private placement, A USD75 million mezzanine, a USD55 million PMGD bridge-loan facility, a USD37 million utility-scale bridge loan, a USD19 million LC Facility, and a USD15 million VAT line.
BNP Paribas and Natixis, New York Branch acted as placement agents, arrangers, and lenders. BCI and Scotiabank Chile acted as agents and lenders on local facilities.
2. Counsel list
• Local counsel to Solek: Guerrero Olivos
Partners: Benjamín Novoa, Felipe Frühling, Sebastián Abogabir and Miguel Coddou
Associates: Sofia Middleton, Loreto Cruz, Juan Ignacio Peribonio, Teresa Trucco and Cristóbal Saavedra
• International counsel to Solek: White & Case LLP
• International counsel to senior lenders: Milbank
• Local counsel to senior lenders and VAT financing: Garrigues
• International counsel to BlackRock: Latham & Watkins
3. Date of closing
26/05/2023
4. Deal value
USD379 million
5. Jurisdictions involved
Chile and USA