Milbank, Tweed, Hadley & McCloy LLP represented Transportadora de Gas Internacional S.A. E.S.P. (TGI), Colombia's largest natural gas transmission, in connection with the $750 million Rule 144A/Reg S offering of 5.550% senior notes due 2028.
The proceeds of the offering will be used by the issuer for the redemption in full of the issuer's aggregate principal amount of notes due 2022.
The Milbank deal team was led by Global Capital Markets partner
Carlos Albarracín, along with associates Gonzalo Guitart and
Delia Solomon.
Mr. Albarracín said: "Milbank is pleased to have
represented TGI, which plays a major role in Colombia's
thriving economy and energy sector. This was a very successful deal
both in terms of the pricing and tenor as well as size and
represents the largest debt capital markets transaction
year-to-date for a Colombian issuer, despite very challenging
markets for Colombian and other Latin American issuers."
Milbank continues to have a strong presence in Colombia and a deep client base in the country. Milbank recently represented Grupo Energía Bogotá in the COP$1.925 billion (approximately US$669 million) first ever dual-track secondary equity offering by a Colombia state-owned company, the initial purchasers in the COP$2.3 trillion (approximately US$750 million) Colombian Peso-denominated Rule 144A senior notes offering by Empresas Públicas de Medellín, the lenders in connection with a financing provided to Brookfield to fund the acquisition of a controlling interest in Gas Natural S.A. ESP, the second largest gas distribution network in Colombia, the lenders in Canadian private equity group Brookfield Asset Management's 1.8 billion peso (US$600 million) acquisition of a stake in Colombian power company Isagen from state-owned companies Empresa de Energía de Bogotá and Empresas Públicas de Medellín and the joint lead arrangers in connection with a US$600 million syndicated financing provided to an affiliate of Cementos Argos S.A. to refinance outstanding indebtedness of the borrower.
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